[SMM Zinc Morning Comment] The Market Sentiment Is Improving And Zinc Is Running Strongly

Overnight, LME zinc prices closed at $2,505/mt, up $14/mt or 0.56%. Trading volume decreased to 7,877 lots, and open interest increased by 1,173 lots to 200,000 lots. LME zinc inventory decreased by 1,300 mt to 97,925 mt, down 1.31%. Demand improved, supporting LME zinc prices.

The most active SHFE 2309 zinc contract prices settled at 21,025 yuan/mt, up 130 yuan/mt or 0.62%. Trading volume decreased to 62,833 lots, and open interest fell by 167 lots to 106,000 lots. Supply was ample and demand was weak. Recently, affected by the weather, downstream construction has once again decreased, and the fundamental support is weak.