Zinc Concentrates Market Faces Supply Concerns as Disruptions in Iran, Australia Persist

[SMM Zinc Morning Comment] Overnight, the most-traded SHFE zinc 2605 contract opened at 23,750 yuan/mt. At the beginning of the session, it briefly rose to a high of 23,785 yuan/mt. Subsequently, bears increased their open interest, and SHFE zinc fluctuated downward all the way to a low of 23,610 yuan/mt, eventually closing lower at 23,660 yuan/mt, down 130 yuan/mt or 0.55%. Trading volume decreased to 35,832 lots, while open interest increased by 860 lots to 74,221 lots.

[SMM Morning Meeting Minutes: US Dollar Weakened, LME Zinc Edged Up] Overnight, LME zinc opened at $3,325.5/mt. Early in the session, LME zinc fluctuated upward and touched a high of $3,365.5/mt during European trading hours. Subsequently, bears increased open interest, and the LME zinc center shifted downward, hitting a low of $3,314.5/mt during the night session. Bears then reduced open interest, lifting the center, and LME zinc ultimately closed higher at $3,340/mt, up $17/mt, a gain of 0.51%. Trading volume rose to 10,950 lots, and open interest fell by 2,418 lots to 215,000 lots.

[ Resources, Cost, and Performance: Assessment of the Future Market Landscape for Zinc Alloys and Brass] Against the backdrop of supply chain security, the in-depth advancement of the dual-carbon strategy, and industrialization in China, zinc alloys and brass, as industrial metals, are both used in end-user industrial metal manufacturing. Mutual substitution between the two has been increasing......