Latest Update in the SMM Zinc Market

Overnight, LME copper opened at $9,118.5/mt, initially rising to $9,155/mt before fluctuating downward, hitting a low of $9,086/mt at the end of the session, and finally closing at $9,082/mt, a decline of 0.38%.

Overnight, LME zinc opened at $2,969/mt, initially fluctuating upward along the daily moving average. During European trading hours, LME zinc accelerated upward, reaching a high of $3,007/mt.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Nov 20, 2024

SMM, November 20: Entering the traditional peak season, the series of stimulus policy packages announced by the state at the end of September injected a strong boost into the consumption side.

SMM, November 20: Due to the winter shutdown of some mines in northern China, many smelters in north China need to stockpile 1-2 months of zinc ore to ensure normal production before and after the Chinese New Year.

LME copper opened at $9,047/mt overnight, initially dipping to $9,022.5/mt before fluctuating upward to a high of $9,123.5/mt at the close, finally settling at $9,117/mt with an open interest of 273,000 lots.

Overnight, LME zinc opened at $2,956/mt.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Nov 19, 2024