SMM December 27 News: SHFE/LME price ratio: This week, the SHFE/LME zinc price ratio maintained a fluctuating trend around 8.5, with the zinc ingot import window closed. From the overseas market perspective, influenced by the cooling of the US Fed's favorite inflation indicator last Friday, expectations for US Fed interest rate cuts have warmed up, the US dollar index pulled back from a two-year high, and combined with the continuous decline in overseas inventories, LME zinc rose steadily under these circumstances before fluctuating and later paused trading due to the Christmas holiday. Domestically, favorable policies were released, boosting market confidence, and macro positive sentiment emerged, leading SHFE zinc to rise steadily. Subsequently, as the market fully digested the macro positive sentiment and with year-end downstream consumption gradually weakening, fundamental support diminished, causing SHFE zinc to decline. Overall, the SHFE/LME price ratio maintained a fluctuating trend. It is expected that the SHFE/LME price ratio may continue to maintain a fluctuating pattern next week.
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