Long and short funds stalemate at high levels, LME zinc fluctuates [SMM Morning Meeting Summary]
[SMM Morning Meeting Summary: Capital Bulls and Bears in High-Level Stalemate, LME Zinc Fluctuates]: Overnight LME zinc opened at $3,534/mt. Early in the session, it quickly rose to a high of $3,547.5/mt before bulls reduced positions, sending LME zinc sharply lower to a low of $3,513/mt during European trading. Afterwards, with bulls and bears locked in a tug-of-war, LME zinc fluctuated and eventually closed lower at $3,534.5/mt, down $6/mt, or 0.17%. Trading volume fell to 9,816 lots, and open interest decreased by 151 lots to 234,000 lots.