[Zinc prices hover at highs this week driven by positive macro sentiment and trade negotiations] At the beginning of the week, cancelled LME zinc warrants surged to 59,900 mt, accounting for more than half of the total, sparking market concerns over the subsequent trend of the supply side. The center of LME zinc prices rose to a four-month high. Subsequently, due to the recent stagnation of US trade negotiations, market tension spread, and LME zinc prices dropped back slightly...

On 18th July, LME zinc opened at $2,737.5/mt, reached an intraday high of $2,826.5/mt and closed at $2,824.5/mt, up by $86.5/mt or 3.16%. As of Monday 21th July , LME zinc remained an upward trajectory and closed at $2,844.5/mt, maintaining strong price momentum. This marks a notable reversal from the bearish expectations for LME zinc widely held by analysts just a couple of weeks ago.

[SMM Morning Meeting Summary: Ratio of cancelled warrants for LME zinc increases to over half, zinc price hits nearly four-month high] Overnight, LME zinc recorded a long upper shadow bullish candlestick, with the upper track of the Bollinger Bands providing support below. Overnight, LME zinc hit a nearly four-month high, primarily due to a sharp increase in cancelled warrants for LME zinc to 59,900 mt, with the ratio of cancelled warrants increasing to over half...