The SHFE/LME zinc price ratio fluctuated around 7.4 [SMM Zinc SHFE/LME Price Ratio Weekly Review]

SMM December 5 News: The SHFE/LME zinc price ratio fluctuated around 7.4 this week, with the import window for zinc ingots remaining closed. Overseas, the US ADP employment data for December fell short of expectations, boosting expectations for a US Fed interest rate cut. Combined with low overseas zinc inventory levels despite recent increases, these factors pushed the LME zinc price higher. Domestically, influenced by overseas sentiment and ahead of the upcoming domestic Politburo meeting in December, market rumors resurfaced, creating a generally positive macro atmosphere. Additionally, a significant reduction in domestic supply supported the rise in SHFE zinc prices. With LME outperforming SHFE, the SHFE/LME ratio continued to fluctuate. Next week, the ratio is expected to remain stable.