LME zinc inventory remains low, LME zinc consolidates at highs [SMM Zinc Morning Meeting Minutes]
[SMM Zinc Morning Meeting Minutes: LME Inventory Still Low, LME Zinc Consolidates at Highs]: Overnight, LME zinc opened at $3,711/mt, drifted lower in early trading, and hit a low of $3,687/mt during European trading hours. Then, as bears reduced their positions, LME zinc drifted higher, reaching a night session high of $3,745.5/mt, and finally closed up at $3,735.5/mt, gaining $37.5/mt or 1.01%. Trading volume dropped to 11,048 lots, and open interest decreased by 6,595 lots to 247,000 lots.