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The U.S. Dollar Index has risen to a one-week high, possibly leading to a decline in zinc prices on the 13th.

Moody’s downgrade of the U.S. credit rating outlook and the rise of the U.S. Dollar Index led to a high-level retreat in London zinc, which closed down 1.56% on the 13th. Increased haze pollution and intensified environmental efforts in northern regions have led to reduced production orders for downstream galvanizing companies, which may result in a decline in zinc prices today.

Overnight, London zinc retraced from its high, opening at $2,601 per ton, reaching a high of $2,619.5, a low of $2,552, and closing at $2,560.5, down $40.5 or 1.56%. Trading volume increased by 1,306 lots to 7,581 lots, and open interest rose by 4,026 lots to 203,841 lots. In the evening, the main Shanghai zinc contract (2312) showed a weak and oscillating downward trend, closing at RMB 21,555 per ton, down RMB 80 or 0.37%.

Today’s spot zinc price outlook: The significant increase in U.S. debt interest costs, coupled with deep-rooted political polarization, has led Moody’s to downgrade the U.S. credit rating outlook to “negative.” After the release of U.S. consumer inflation expectations, the U.S. Dollar Index rose to a one-week high, putting pressure on the entire non-ferrous metals market. London zinc, in particular, fell 1.56% to $2,560.5. In Yunnan, some smelters have halted production for maintenance due to power restrictions, but production capacity is gradually recovering as maintenance in Gansu comes to an end. The surplus situation has not improved significantly after balancing production increases and decreases between the north and south. However, with intensified environmental efforts and worsening haze pollution in northern regions, the reduction in production caused by downstream galvanizing companies’ production restrictions has led to a decrease in zinc ingot orders. With no positive support in the spot market, it is expected that spot zinc prices will decline today.

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