A Zinc Smelter in Northwest China to Undergo Maintenance, with Expected Production Cuts of 6,000 mt

[SMM Zinc Morning Comment] Overnight, the most-traded SHFE zinc 2605 contract opened at 23,765 yuan/mt. In early trading, SHFE zinc fluctuated downward to a low of 23,695 yuan/mt, then futures gradually stabilized near the daily average line and maintained a fluctuating trend. Subsequently, bulls increased open interest and the SHFE zinc center continued to shift upward, reaching a high of 23,860 yuan/mt. In late trading, it hovered at highs, ultimately closing higher at 23,810 yuan/mt, up 45 yuan/mt or 0.19%. Trading volume decreased to 31,616 lots, and open interest decreased by 149 lots to 77,219 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.

[Lead-Zinc Miner Updates] Yesterday, Luoping Zinc & Electricity (002114) responded to investor questions on its interactive platform, stating that the capacity of the Jinpo lead-zinc mine under its subsidiary Guizhou Derong Mining had not changed before and after the production resumption, and the actual production status would be publicly disclosed in the company's annual report.