U.S.-Iran Tensions Fluctuate, LME Zinc Center of Gravity Shifts Downward [SMM Morning Meeting Minutes]
[SMM Morning Meeting Minutes: U.S.-Iran Tensions Fluctuate, LME Zinc Center Shifts Downward] Overnight, LME zinc opened at $3,310/mt. In the early session, LME zinc fluctuated upward and touched a high of $3,343.5/mt during European trading hours. Subsequently, bears increased their open interest, and the LME zinc center shifted downward, hitting a low of $3,295/mt during the night session. The center then lifted, and LME zinc ultimately closed lower at $3,323/mt, down $12/mt, a decline of 0.36%. Trading volume rose to 9,399 lots, and open interest increased by 4,520 lots to 217,000 lots.