LME inventory continues to decline, LME zinc center moves higher [SMM Morning Meeting Summary]

[SMM Morning Briefing: LME Inventory Continues to Decline and LME Zinc Center Moves Higher] Overnight, LME zinc opened at $3,591.5/mt and immediately dipped to $3,591.5/mt. Entering the European trading session, bears reduced positions, pushing the price up to hit a high of $3,627.5/mt. Afterwards, the price pulled back somewhat. During the night session, prices continued to consolidate at highs. It ended higher at $3,615/mt, up $27.5/mt or 0.77%. Trading volume dropped to 8,356 lots, and open interest decreased by 1,942 lots to 249,000 lots.

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