SMM Zinc Morning Meeting Minutes: US January Seasonally Adjusted Non-Farm Employment Data Released, London Zinc Downward
On Friday, London Zinc recorded a bearish candle, with support provided by the lower Bollinger Band. LME inventories decreased by 550 tons to 198,325 tons, a 0.28% decrease. Seasonally adjusted non-farm employment in the US increased by 353,000 in January, the largest increase since January 2023, showing strong performance in the labor market. The US dollar index quickly rose, putting downward pressure on zinc prices at the macro level.
