China is currently in the Dragon Boat Festival holiday, and SHFE zinc trading is suspended [SMM Zinc Morning Comment]

Published: Jun 3, 2025 08:37

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[SMM Morning Comment on Zinc: Domestic Market Closed for Dragon Boat Festival Holiday, SHFE Zinc Trading Halted] Overnight, LME zinc opened at $2,638.5/mt. After opening, LME zinc briefly stabilized and oscillated, hitting a low of $2,627/mt during the period, before rising steadily and reaching a high of $2,707/mt near the close. It finally closed up at $2,693/mt, up $63.5/mt or 2.41%. Trading volume increased to 13,705 lots, while open interest decreased by 536 lots to 213,000 lots...

SMM, June 3:

Overnight, LME zinc opened at $2,638.5/mt. After opening, LME zinc briefly stabilized and fluctuated, hitting a low of $2,627/mt during the period, before rising all the way and touching a high of $2,707/mt near the close. It eventually closed up at $2,693/mt, up $63.5/mt or 2.41%. Trading volume increased to 13,705 lots, while open interest decreased by 536 lots to 213,000 lots. Overnight, LME zinc recorded a bullish candlestick, with the KDJ opening gradually widening. The US ISM manufacturing PMI contracted for the third consecutive month, the US dollar index weakened, and geopolitical conflicts in the market resurfaced, driving up market risk aversion demand. The center of LME zinc prices rose WoW.

Overnight, as it was the Dragon Boat Festival holiday in China, SHFE zinc trading was suspended.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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