Overnight, LME zinc opened at $2,924.5/mt, reaching a high of $2,952.5/mt, then falling to a low of $2,916/mt amid an unexpected rebound in US job openings data, and finally closed at $2,919/mt, down $2/mt, a decrease of 0.02%. Trading volume was reduced to 7,398 lots, and open interest increased by 635 lots to 238,000 lots. Overnight, LME zinc recorded a bearish candlestick, with LME inventory reduced by 2,075 mt to 259,775 mt, a decrease of 0.79%. The macro sentiment was bearish, with US job openings unexpectedly rebounding from a more than three-year low, putting pressure on LME zinc. It is expected that LME zinc will run weak today.
Overnight, the most-traded SHFE 2408 zinc contract opened at 24,530 yuan/mt, rising to a high of 24,625 yuan/mt, then reaching a low of 24,420 yuan/mt, and finally closed at 24,470 yuan/mt, up 20 yuan/mt, an increase of 0.08%. Trading volume dropped to 74,717 lots, and open interest decreased by 76 lots to 93,271 lots. Overnight, SHFE zinc recorded a bearish candlestick. The domestic supply and demand remain weak in the short term. With US job openings rebounding from a low overnight, SHFE zinc is expected to fluctuate today.
