SMM

SMM, Oct 8: Overnight, US Fed's Muserlem: Further interest rate cuts are likely; Sources: Israel will soon retaliate against Iran; It is reported that Iran has prepared 10 plans to counter potential Israeli attacks; US State Department: Israel is expected to strike Hezbollah in accordance with international humanitarian law; FTSE China A50 futures open interest reached a record high; During the National Day holiday, the number of new accounts opened by major securities firms hit a historical high; On the eve of the A-share market opening, several funds hit daily upside ceiling. Overnight, LME zinc opened at $3,175/mt, initially fluctuating widely along the daily moving average, dipping to $3,155/mt, then bulls increased positions, pushing LME zinc higher during European trading hours to a peak of $3,189/mt, continuing to fluctuate widely along the daily moving average, and finally closing up at $3,180/mt, up $9.5/mt, an increase of 0.3%. Trading volume decreased to 7,883 lots, and open interest increased by 1,607 lots to 260,000 lots. Overnight, LME zinc recorded a bullish candlestick, with LME inventory decreasing by 1,225 mt to 244,100 mt, a drop of 0.5%. US further interest rate cut expectations have risen again, and domestic policy support remains, with LME zinc fluctuating at high levels, expected to fluctuate today.