[SMM Update] According to SMM, as of Thursday (April 30), zinc inventory in the Shanghai Bonded Zone stood at 3,300 mt, flat WoW, with bonded zone inventory unchanged.

[SHFE/LME zinc price ratio rebounded to around 7.1 and oscillated]: This week, the SHFE/LME zinc price ratio rebounded to around 7.1 and oscillated, with the zinc ingot import window remaining closed. Outside China, increased uncertainty over the US-Iran conflict triggered inflation concerns, the US dollar index strengthened, and growing concerns over economic growth weighed on non-ferrous metals, which remained in the doldrums. LME inventory edged up, and LME zinc declined.

[SMM Morning Meeting Minutes: Poor Macro Sentiment, LME Zinc Posted Three Consecutive Losses] Overnight LME zinc posted three consecutive losses, with the daily candlestick center shifting downward and the 40-day average line providing support below. Overnight the US Fed kept interest rates unchanged, the US dollar index strengthened, and market concerns over economic growth intensified. Non-ferrous metals were in the doldrums, LME zinc......

[SMM Zinc Morning Comment] Overnight SHFE zinc recorded a small bearish candlestick, with KDJ diverging downward. Macro instability increased, and on the fundamentals side, weak consumption led to a continued increase in social inventory, suppressing zinc price movements, but...

[SMM Morning Meeting Minutes: Overnight LME Zinc Recorded a Shaven-Head Bearish Candlestick with Daily Candlestick Center Shifting Downward] Overnight LME zinc recorded a shaven-head bearish candlestick, with the daily candlestick center shifting downward and the 5-day moving average forming resistance above. As increased uncertainty over the US-Iran conflict triggered inflation concerns, the US dollar strengthened, non-ferrous metals were overall in the doldrums, and bears

[SMM Morning Meeting Minutes: U.S.-Iran Negotiations Reach Impasse, LME Zinc Center Shifts Lower] Overnight, the LME zinc contract recorded a long upper shadow bearish candlestick, with KDJ diverging downward. The 20-day moving average below provided support. U.S.-Iran negotiations reached an impasse, expectations of escalating conflict rose, base metals were under pressure overall, bulls mainly reduced positions and exited, and the center of zinc prices shifted lower.