SHFE/LME Price Ratio Pulled Back, Import Window Opened Then Closed [SMM Weekly Review on SHFE/LME Zinc Price Ratio]

SMM January 24 News: This week, the SHFE/LME zinc price ratio pulled back to fluctuate around 8.2, and the zinc ingot import window closed. From the overseas market perspective, as Trump did not indicate higher tariff imposition in his inauguration speech, the US dollar index plunged, and LME zinc quickly surged to a weekly high. Later, the market grew concerned about global economic growth and trade order stability, causing LME zinc to decline continuously. Domestically, downstream enterprises entered the Chinese New Year break this week. The domestic market was also affected by the uncertainty of Trump's tariffs, leading to a generally cautious sentiment. Under these circumstances, SHFE zinc plunged. The SHFE/LME zinc price ratio dropped significantly. After the holiday, the SHFE/LME zinc price ratio is expected to maintain a fluctuating trend.

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