U.S.-Iran Ceasefire Agreement Remained in Effect, LME Zinc Center Shifted Higher [SMM Morning Meeting Minutes]
[SMM Morning Meeting Minutes: U.S.-Iran Ceasefire Agreement Remains in Effect, LME Zinc Center Moves Higher] Overnight, LME zinc was closed for the Easter holiday. Overnight, SHFE zinc was closed for the Qingming Festival holiday. The market awaited further signals on the U.S.-Iran situation ahead of Trump's "deadline." Significant uncertainty remained over the Middle East situation, while ex-China social inventory stayed low. LME zinc was expected to hold up well with a fluctuating trend, with attention on macro developments.