Macro and Fundamental Bull-Bear Interweaving, SHFE and LME Maintain Fluctuating Trend [SMM Market Review - Zinc Price Weekly Review]
[Macro and Fundamental Crosscurrents Keep SHFE and LME in Fluctuating Trend] Early in the week, the US-Iran memorandum of understanding lifted macro sentiment, but a rising US dollar index kept LME zinc fluctuating at highs. Subsequently, LME zinc inventory rose markedly to above 120,000 mt, weighing on zinc prices and sending LME zinc lower. Then, ahead of the US Fed’s rate decision, wait-and-see sentiment grew notably, putting a temporary brake on the decline as LME zinc moved sideways...