LME Zinc Prices Remained Stable

LME zinc prices opened at $2488/mt last evening and closed down $20.5/mt or 0.82% at $2466.5/mt. Trading volume decreased to 5757 lots, and open interest increased by 4496 lots to 201,000 lots. LME zinc inventory remained flat. The market is waiting for more data guidance.

The most active SHFE 2310 zinc contract prices opened at 21290 yuan/mt and lost 15 yuan/mt or 0.07% to settle at 21250 yuan/mt in overnight trading. Trading volumes decreased to 49141 lots and open interest increased 384 lots to 105,000 lots. The state of domestic social inventory destocking has turned to accumulation. But as the current smelter production profit exceeds 800 yuan/mt, output may remain at a high level.