LME zinc opened at $2601/mt yesterday evening, and hit a high of $2576.5/mt before falling back to $2534.5/mt, and closed at $2550/mt, a decrease of $10.5/mt or 0.41%. The trading volume decreased to 7303 lots, and open interest added 2047 lots to 206,000 lots. LME zinc inventory dropped by 925 mt or 1.32% to 69225 mt. Foreign media reported on November 13 that two sources said that Germany’s Nordenham zinc smelter is expected to restart next year. The smelter has been undergoing maintenance and repairs for more than a year. The smelter will resume zinc concentrate roasting, the first of four processes to produce refined zinc metal, in the first quarter of next year, one of the people said. The smelter produces about 165,000 tons of zinc and zinc alloys each year, and zinc ingots fluctuated downward due to expected growth in zinc ingot supply.
Overnight, the most active SHFE 2312 zinc contract opened at 21,480 yuan/ton and quickly moved up to reach a high of 21,565 yuan/ton. Prices fell to a low of 21,450 yuan/ton and finally closed down at 21,550 yuan/ton, down 15 yuan/ton, or 0.07%. At the end of October, China's social financing stock, M2, RMB deposits, and government bond net financing in October all increased year-on-year.
