SMM Zinc Morning Meeting Minutes: US Labor Market Remains Stable, London Zinc Slightly Downward
Overnight, London zinc recorded a downward candlestick, with support provided by the lower Bollinger Band. LME inventories decreased by 1575 tons to 204125 tons, a decrease of 0.77%. The number of initial jobless claims in the US hit a new low since the week of September 24, 2022, indicating that the labor market remains strong and suppressing market expectations of a rate cut by the Federal Reserve.
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