SHFE/LME price ratio continues to fluctuate around 8.6, with the import window for zinc ingots opening {{SMM Weekly Review of SHFE/LME Zinc Price Ratio}}

SMM April 30 News: This week, the SHFE/LME zinc price ratio fluctuated around 8.6, and the import window for zinc ingots opened. The final value of the University of Michigan Consumer Sentiment Index for the US in April, released last Friday, was higher than the previous value and expectations, causing LME zinc prices to continue their decline. Subsequently, the US JOLTs job openings data for March was released, showing a figure of 7.192 million, which was lower than the previous value and expectations. The weak data performance, coupled with market concerns over trade tensions, led to a further decline in LME zinc prices. Domestically, China announced several measures to stabilize employment and the economy, and these positive developments caused SHFE zinc prices to rise slightly. However, due to uncertainties in trade policies and the macroeconomic environment, SHFE zinc prices dropped back slightly. With the domestic market outperforming the overseas market, the SHFE/LME zinc price ratio remained stable. It is expected that there will be no significant improvement in the SHFE/LME zinc price ratio next week.

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