SHANGHAI, Nov. 25 (SMM) – LME zinc prices overnight opened higher at USD 1,911.3/mt. Due to selling pressure and rising US dollar index, LME zinc prices inched down and dipped to USD 1,896/mt. Due to the Thanksgiving Day holiday in the US, market sentiment continued to decrease. US pending home sales in October and Dallas Fed’s manufacturing index in November fell short of expectations, increasing risk aversion. LME zinc prices hovered between USD 1,898-1,904/mt, and closing at USD 1,904.3/mt, down USD 5.8/mt. Trading volumes decreased by 2,918 lots to 6,085 lots, and total positions increased by 3,167 lots, to 289,000 lots.
LME zinc prices are expected to move between USD 1,895-1,915/mt today, and SHFE 1402 zinc contract prices should hover between RMB 14,820-14,890/mt, with spot premiums of RMB 60-100/mt against SHFE 1401 zinc contract prices.