The SHFE/LME zinc price ratio hovers around 6.9 [SMM Zinc SHFE/LME Price Ratio Weekly Review]

SMM, June 5: This week, the SHFE/LME price ratio maintained a fluctuating trend around 6.9, and the zinc ingot import window remained closed. Outside China, on the macro front, repeated geopolitical developments caused fluctuations in US Treasury yields and the US dollar index, affecting the market; expectations for tariff policies stirred up renewed uncertainty. Meanwhile, ex-China zinc inventory remained persistently low, and LME zinc fluctuated at highs. In China, ore TCs continued to provide some support for zinc prices, but weakening zinc demand put pressure on prices, causing zinc prices to struggle to rise, with SHFE zinc mainly maintaining a fluctuating trend. Overall, the SHFE/LME price ratio maintained a fluctuating trend. It is expected that next week, the SHFE/LME price ratio will mainly fluctuate.