Driven by favorable domestic policies, LME zinc moved up [SMM zinc morning comment]

Overnight, LME zinc opened at $2863.5/ton and touched a high of $2955.5/ton. It finally closed up at $2944/ton, up $82/ton, or 2.87%. The trading volume increased to 13060 lots, and the position increased by 1895 lots to 232,000 lots. Overnight LME zinc inventory decreased by 350 tons to 239,850 tons, a decrease of 0.15%, and LME inventory recorded a decrease. Affected by the favorable domestic policies, macro sentiment improved, and the overall LME zinc moved up. Overnight, the most active SHFE 2408 zinc contract opened at 24,300 yuan/ton and fell to 24,065 yuan/ton. It finally closed up at 24,245 yuan/ton, up 485 yuan/ton, an increase of 2.04%. The trading volume decreased to 162,000 lots, and the position increased by 2,336 lots to 97,332 lots. Domestic real estate has issued favorable policies again, the macro atmosphere has improved, and the overall zinc price has risen rapidly under the expectation of production cuts by domestic smelters.