SMM Zinc Morning Meeting Minutes: US Non-Farm Payroll Data Exceeds Expectations, London Zinc Under Pressure
Last Friday, London Zinc recorded a long upper shadow candle, with the 5-day moving average forming resistance. LME inventories decreased by 3100 tons to 215,450 tons, a decrease of 1.42%. In November, the US added 199,000 non-farm jobs, higher than expected, and the unemployment rate dropped from 3.9% to 3.7% from the previous month, indicating a strong underlying labor market and suggesting that the Fed's interest rate cut may be premature. With the change in expectations for interest rate cuts, London Zinc came under pressure and moved lower.



