FX.co ★ Zinc Prices Rise on US–China Trade Optimism

Zinc futures rose to over $2,680 per tonne on June 11, experiencing a modest recovery following losses earlier in the month. The price increase was partly driven by renewed optimism stemming from a framework agreement between U.S. and Chinese officials in London, designed to ease export controls and stabilize trade relations. While the agreement has uplifted sentiment across industrial metals markets, zinc prices remain under pressure due to weak manufacturing demand, especially in China. On the Shanghai Futures Exchange, zinc fell for the third consecutive session, reaching 21,845 yuan per ton, its lowest level since April. According to SHMET, Chinese buyers are restricting their purchases to immediate needs because of subdued demand. Speculative interest has also diminished as traders look for clearer indications of progress in trade relations and industrial recovery.