US-Iran tensions spark market concerns, LME zinc dives [SMM Morning Briefing]
[SMM Morning Meeting Minutes: US-Iran Tensions Cause Market Concerns, LME Zinc Plunges] Overnight, LME zinc opened at $3,549/mt. Initially, after a brief uptick, LME zinc fell to a low of $3,520.5/mt. Subsequently, bears added positions, and LME zinc fell all the way to a low of $3,465.5/mt near the end of trading, finally closing down at $3,468.5/mt, down $77.5/mt, a decline of 2.19%. Trading volume increased to 17,248 lots, and open interest rose by 568 lots to 234,000 lots.