SHFE/LME Price Ratio Pulled Back to Around 7.3 and Fluctuated [SMM Weekly Review of the SHFE/LME Zinc Price Ratio]

SMM News, March 13: This week, the SHFE/LME price ratio pulled back and fluctuated around 7.3, with the zinc ingot import window remaining closed. Outside China, easing inflation concerns boosted a rebound in zinc prices; subsequently, investors stayed alert to an escalation of the Middle East conflict, while a stronger US dollar, together with US February CPI coming in line with expectations and inflation remaining sticky, drove LME zinc to fluctuate lower. In China, amid signs of easing tensions in the Middle East and gains in LME prices, SHFE zinc rebounded slightly. However, China social inventory climbed to a three-year high, and the recovery in consumption fell short of expectations. Under overseas influence, the center of SHFE zinc moved lower. Overall, the SHFE/LME price ratio declined. The SHFE/LME price ratio is expected to remain rangebound next week.