[SMM Zinc Morning Meeting Minutes: LME Zinc Ingot Inventory Continued to Decline, Zinc Prices Surged During the Day]: Overnight, LME zinc opened at $3,414.5/mt. After the opening, LME zinc dipped slightly, touching a low of $3,387.5/mt before quickly rising, reaching an intraday high of $3,454.5/mt. LME zinc then fluctuated at highs before pulling back, ultimately closing higher at $3,437/mt...

[SMM Zinc Morning Comment: SHFE Zinc Hovered at Highs, Export Window Worth Watching] Overnight, the most-traded SHFE zinc 2606 contract opened at 24,290 yuan/mt. At the beginning of the session, SHFE zinc touched a high of 24,300 yuan/mt before fluctuating downward, hitting an intraday low of 24,105 yuan/mt. SHFE zinc then maintained a fluctuating trend and eventually closed higher at 24,180 yuan/mt, up 65 yuan/mt or 0.27%, with trading volume rising to 42,286 lots..

[SMM Morning Meeting Minutes: Continuous Macro Fluctuations, LME Zinc Center Slightly Rising] Overnight, LME zinc opened at $3,290/mt. In the early session, LME zinc fluctuated upward above the daily average line, but after entering the European trading session, the price pulled back to a low of $3,268.5/mt. After entering the night session, LME zinc rallied strongly, breaking through the daily average line resistance all the way, touching a high of $3,334/mt near the close, and ultimately closed up at $3,325/mt, up $40/mt, a gain of 1.22%. Trading volume decreased to 8,664 lots, and open interest increased by 291 lots to 212,000 lots.

[Mixed Bullish and Bearish Factors in the Market, SHFE and LME Zinc Prices Rose] At the beginning of the week, LME zinc continued last week's downward fluctuation trend; subsequently, the US dollar index dropped back slightly from its highs, and LME zinc rose; however, the ongoing escalation of the Middle East conflict, coupled with the renewed strength of the US dollar index, constrained the upside room for zinc prices, and the center of LME zinc gradually pulled back......

[Macro Disturbances Coupled With Rising China Inventory Weighed on the Centers of Both SHFE and LME This Week] At the beginning of the week, Trump stated that the conflict in Iran was basically over, and the US dollar index fell sharply, pushing the center of LME zinc higher; subsequently, market uncertainty intensified, some funds exited, and LME zinc came under pressure......

[SMM Zinc Morning Meeting Minutes: LME Zinc Ingot Inventory Remains Low, LME Zinc Fluctuates at Highs] Overnight, LME zinc opened at $3,387.5/mt, fluctuated upward after opening, touched a high of $3,416.5/mt, then pulled back all the way, approaching the end of the session, LME zinc touched a low of $3,362.5/mt, then rebounded from the low to near the daily average line, and finally closed down at $3,387/mt...

[SMM Zinc Morning Comment: Downstream Yet to Fully Resume Work, SHFE Zinc Maintains Fluctuating Trend] Overnight, the most-traded SHFE zinc 2604 contract opened at 24,590 yuan/mt. After opening, it briefly fluctuated downward, hitting a low of 24,550 yuan/mt before rebounding and reaching a high of 24,715 yuan/mt towards the close. It finally closed down at 24,675 yuan/mt, falling 35 yuan/mt or 0.14%, with trading volume decreasing to 39,861 lots.

[SMM Zinc Morning Meeting Minutes: Base Metals Generally Rise, LME Zinc Center Edges Up Slightly] Overnight, the LME zinc contract opened at $3,360/mt. After opening, it fluctuated upward, reaching a high of $3,431.5/mt near the early session. Subsequently, it continuously pulled back from the high, touching a low of $3,360/mt during the session, then maintained a fluctuating trend below the daily average line, finally closing up at $3,387.5/mt···

[SMM Zinc Morning Comment: Significant Zinc Ingot Inventory Buildup During Chinese New Year, SHFE Zinc Pulls Back in Night Session] Overnight, the most-traded SHFE zinc 2604 contract opened at 24,585 yuan/mt. Initially, SHFE zinc rose slightly to touch a high of 24,710 yuan/mt, then fluctuated and pulled back below the daily average line. During the session, it probed a low of 24,510 yuan/mt and continued to fluctuate at lows, eventually closing down at 24,550 yuan/mt, a decrease of 130 yuan/mt.

During the Chinese New Year break, LME zinc's price center first declined and then rose. The 40-day moving average consistently supported the daily candlestick of LME zinc. After opening, the price center of LME zinc pulled back, hitting a low of $3,253/mt before rebounding steadily. Overall, the price center recovered, and as of Friday's close, LME zinc settled at $3,378/mt, up $35.5/mt for the week, a gain of 1.06%.