Overnight, LME zinc opened at US$2448.5/ton and touched a high of US$2457/ton. During the European trading session, the LME zinc fluctuated all the way down, reaching a low of US$2415/ton, and finally closed down at US$2418/ton, down $20.5/ton, or 0.84%. Trading volume increased by 2659 lots to 12248 lots, and open interest decreased by 2437 lots to 198,000 lots. LME stocks decreased by 1625 tons to 221,000 tons, a decrease of 0.73%.
The most active SHFE 2401 zinc contract prices opened at 20410 yuan/mt and lost 85 yuan/mt or 0.41% to settle at 20445 yuan/mt in overnight trading with the high-end of 20620 yuan/mt and the low-end of 20360 yuan/mt. Trading volumes decreased 63115 to 46,700 lots and open interest fell 2589 lots to 91,300 lots. The fall in zinc prices has led to an improvement in the spot trading, and fundamentals have given certain support to Shanghai zinc. However, the overall supply of zinc ingots has remained ample, and SHFE zinc lacked ability to rise.
