Overnight, LME zinc opened at $2433.5/mt and closed up $28.5/mt or 1.17% at $2458.5/mt. The trading volume was 6647 lots, and open interest added 112 lots to 203,000 lots. A series of solid corporate earnings and optimistic financial forecasts stimulated investors' risk appetite and pushed the market generally higher. The strong financial reports of U.S. companies overshadowed concerns about the pessimistic economic data in the Eurozone. Nonferrous metals generally rose, and zinc futures followed suit.
Last evening, the most active SHFE 2312 zinc contract prices opened at 20980 yuan/mt and closed at 21025 yuan/mt, up 140 yuan/mt or 0.67%. Trading volume stood at 62,000 lots, and open interest gained by 3288 lots to 77,000 lots. Domestic spot trading has gradually weakened, and the lackluster performance on the consumer side has limited support for zinc prices. However, the performance of U.S. economic data and strong financial reports of overseas companies have driven sentiment to a certain extent.
