SMM

LME zinc opened at $2407/mt last Friday evening, and hit a high of $2438/mt before falling back to $2382.5/mt, and closed at $2389.5/mt, a decrease of $16.5/mt or 0.69%. Trading volume rose to 12232 lots, and open interest added 1379 lots to 200,000 lots. LME zinc inventory dropped by 3100 mt or 1.42% to 215450 mt. The number of non-farm jobs in the United States increased by 199,000 in November, which was higher than expected. The unemployment rate fell to 3.7% from 3.9% in the previous month. Strong labor market fundamentals suggest that the Federal Reserve may cut interest rates too early. As expectations for interest rate cuts change, London zinc is under pressure to decline.