SMM Zinc Morning Comment

Published: Nov 2, 2023 10:10

Save

Overnight, LME zinc opened at US$2,425/ton. During the European trading period, LME zinc fluctuated around the daily moving average, and reached a low of US$2,400.5/ton before touching a high of US$2,598.5/ton. The contract finally closed up at US$2,497/ton, up US$79.5/ton, or 3.29%. The trading volume increased by 9,052 lots to 16,201 lots, and the open interest decreased by 206 lots to 198,000 lots. LME inventory fell by 1,825 tons to 82,700 tons, a decrease of 2.16%. Nyrstar announced the closure of the operations of two US zinc mines, driving LME zinc to rapidly rise.

Overnight, the most-traded SHFE 2312 zinc contract opened at 21200 yuan/mt and rose to 21615 yuan/mt before closing at 21505 yuan/mt, up 525 yuan/mt or 2.5%. Trading volume increased 49215 to 179,000 lots, and open interest increased by 9821 lots to 91,800 lots.

Market review

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

2 hours ago

Tata Steel and Hindustan Zinc announced partnership to integrate the low-carbon zinc solution EcoZen.

Tata Steel and Hindustan Zinc announced on Monday, 25 March 2026, a partnership to incorporate EcoZen, a sustainable and environmentally friendly steel production solution, producing low carbon-zinc. HZL’s EcoZen is manufactured using renewable energy and has a certified carbon footprint of less than 1 tonne of CO₂ equivalent per tonne of zinc, around 75% lower than the global industry average of production. This allows downstream industries to significantly reduce toxic emissions across the value chain.

2 hours ago

3 hours ago

Data: SHFE, DCE market movement (Mar 25)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 25 Mar , 2026

3 hours ago

10 hours ago

US Dollar Index Strengthened, LME Zinc Came Under Pressure and Edged Lower [SMM Zinc Morning Meeting Summary]

[SMM Morning Zinc Briefing: Stronger US Dollar Index Put LME Zinc Under Pressure and Slightly Lower]: Overnight, LME zinc opened at $3,095/mt. After the opening, LME zinc fluctuated downward along the daily average line, hitting an intraday high of $3,097/mt. Near the close, LME zinc fell to a low of $3,027/mt, and finally closed down at $3,038.5/mt, down $64.5/mt, a decline of 2.08%, while trading volume decreased to 11,298 lots...

10 hours ago