LME zinc prices opened at $2473.5/mt last evening and closed down $23/mt or 0.93% at $2442/mt. Trading volume increased to 6521 lots, and open interest decreased by 1323 lots to 220,000 lots. LME zinc inventory shed by 2025 mt to 87025 mt.
The most active SHFE 2311 zinc contract fell to 21115 yuan/mt after opening lower at 21235 yuan/mt, and finally closed at 21125 yuan/mt, down 150 yuan/mt or 0.71%. Trading volume was down to 61566 lots, and open interest grew by 1428 lots to 103,000 lots. The U.S. CPI data unexpectedly rose higher than expected, strengthening the market's expectations for the Federal Reserve to raise interest rates again. The U.S. dollar index rose and returned to above the 106 mark.
