Markets Bet on US Fed Rate Hikes, LME Zinc Comes Under Pressure [SMM Morning Meeting Summary]
[SMM Morning Meeting Summary: The Market Bet on a US Fed Rate Hike, and LME Zinc Came Under Pressure] Overnight, LME zinc opened at $3,132.5/mt. In early trading, LME zinc briefly rose to a high of $3,136/mt before bears increased their positions, sending LME zinc fluctuating downward all the way. It touched a low of $3,125/mt in the night session, after which its center rebounded, and it finally closed down at $3,073.5/mt, down $59/mt, or 1.88. Trading volume increased to 18,995 lots, and open interest rose by 607 lots to 209,000 lots.