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SMM zinc morning comment: LME zinc fluctuated at lows

iconApr 15, 2024 10:11
Source:SMM
Last Friday, LME zinc opened at US$2,773/ton, and touched a low of US$2,766.5/ton.

Last Friday, LME zinc opened at US$2,773/ton, and touched a low of US$2,766.5/ton. During the European trading session, it rose to the intraday high of US$2,863/ton, and finally closed up at US$2,802.5/ton, up US$35.5/ton, or 1.28%. The trading volume increased to 22,954 lots, and the position increased by 2,087 lots to 252,000 lots. LME zinc inventory dropped by 450 mt or 0.17% to 258475 mt.

The most active SHFE 2406 zinc contract prices opened at 23110 yuan/mt and gained 95 yuan/mt or 0.42% to settle at 22940 yuan/mt, with the high-end of 23380 yuan/mt and the low-end of 22845 yuan/mt. Trading volumes decreased to 201,000 lots and open interest fell 4899 lots to 129,000 lots. The macroeconomic atmosphere is relatively warm, but the performance of the consumer is poor. SHFE zinc may fluctuate weakly.

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