Overnight, LME zinc prices opened at $2492.5/mt and closed up $53/mt or 2.13% at $2542/mt. The trading volume was 11218 lots, and open interest decreased 4823 lots to 221,000 lots.
Last evening, the most active SHFE 2311 zinc contract prices opened at 21550 yuan/mt and closed at 21715 yuan/mt, up 315 yuan/mt or 1.47%. Trading volume stood at 58,000 lots, and open interest gained by 8698 lots to 106,000 lots.
During the Asian Games, there will be restrictions on the production in the areas around Hangzhou. Zinc secondary consumer companies and terminal companies have plans to suspend production. Zhejiang’s local zinc ingot procurement enthusiasm was poor. At present, the support for zinc prices from the consumption side is limited.
