Expectations for US Fed Rate Hikes Surge, LME Zinc Falls Under Pressure [SMM Morning Meeting Summary]
[SMM Morning Meeting Summary: Expectations for US Fed Rate Hikes Increase Significantly, LME Zinc Under Pressure]: Last Friday, LME zinc opened at $3,594/mt. In early trading, with bulls and bears intertwined, the center of LME zinc edged lower, fluctuating around $3,570/mt. The center then rebounded, and during the night session, LME zinc surged to a high of $3,602/mt. Subsequently, bears added a large number of positions, and at the end of the session, LME zinc dipped to a low of $3,522.5/mt, finally closing down at $3,540/mt, down $54.5/mt, a decline of 1.52%. Trading volume increased to 11,703 lots, and open interest increased by 3,251 lots to 234,000 lots.