LME Zinc Prices Fluctuate Amid Trade War Tensions and Declining Inventory

Published: May 26, 2025 09:23

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Last Friday, LME zinc opened at $2,705.5/mt. In the early session, LME zinc fluctuated upward along the daily moving average, reaching a high of $2,721.5/mt during European trading hours. Subsequently, as bulls reduced their positions, LME zinc fluctuated downward, dipping to a low of $2,670.5/mt during the night session, before stabilizing and rebounding. LME zinc consolidated near the daily moving average, eventually closing up at $2,712.5/mt, up $8/mt or 0.3%. Trading volume increased to 8,815 lots, while open interest remained flat at 212,000 lots. Last Friday, LME zinc recorded a small bullish candlestick with a long lower shadow, retracing to the 5/10-day moving averages. As Trump once again threatened to escalate the trade war, proposing to impose a 50% tariff on the EU starting from June 1, the US dollar index declined, and non-ferrous metals generally rose. Meanwhile, LME inventory continued to decrease, and LME zinc fluctuated upward.

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