SMM Zinc Morning Meeting Minutes: US November retail sales rate announced, London zinc shows some upward movement

Overnight, London zinc recorded a positive candlestick, with the 20-day moving average forming resistance. LME inventories decreased by 1025 tons to 210050 tons, a decrease of 0.49%. The US November retail sales rate recorded 0.3%, reaching a new high since September this year, indicating that the US economy is maintaining a moderate growth momentum and alleviating concerns about economic recession. Additionally, the number of initial jobless claims in the US for the week ending December 9th was 202,000, lower than market expectations, highlighting the resilience of the US economy. As a result, the US dollar index fell, reducing the upward pressure on London zinc.