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[SMM Zinc Morning Comment] The most-traded SHFE zinc 2512 contract opened lower with a gap at 22,700 yuan/mt. At the beginning of the session, it briefly rose to a high of 22,725 yuan/mt, then fluctuated downward to a low of 22,620 yuan/mt as bulls reduced their positions. It subsequently maintained a rangebound fluctuation and finally closed down 105 yuan/mt, or 0.46%, at 22,635 yuan/mt. Trading volume decreased to 40,145 lots, while open interest fell by 281 lots to 103,000 lots.
US Government Reopens, LME Zinc Records a Bearish Candlestick [SMM Morning Meeting Minutes]
[SMM Morning Meeting Minutes: US Government Reopens, LME Zinc Records a Bearish Candlestick] Overnight, the LME zinc contract opened at $3,072.5/mt. At the beginning of the session, the price center rose to a high of $3,100.5/mt. Upon entering the European trading session, bears increased their positions, causing LME zinc to fluctuate downward and touch a low of $3,038.5/mt. Although there was a slight rebound later, the momentum was limited. It finally closed down at $3,040.5/mt, falling by $31.5/mt, a decline of 1.03%.
【SMM Analysis】PP 28/2025 Update: Implications for Indonesian Nickel Smelters
Following the previous explanation of Government's Regulation No. 28 of 2025 (PP 28/2025), which governs "Implementation of Risk-Based Business Licensing" on June 5th 2025. SMM has joined FINI (Indonesia's Nickel Industry Forum) Coffee Morning, featuring the Director General of ILMATE (Metal, Machinery, Transportation Equipment, and Electronics Industries), Dr. Setia Diarta, M.T., and attended by stakeholders from various smelters across Indonesia.
