SHFE Zinc Opened Higher with a Gap Last Night, but Prices Still Faced Some Resistance Above [SMM Zinc Morning Comment]
[SMM Zinc Morning Comment] Overnight, the most-traded SHFE zinc 2605 contract opened higher with a gap at 23,920 yuan/mt. At the beginning of the session, SHFE zinc briefly touched a high of 23,970 yuan/mt before futures pulled back under pressure, hitting a low of 23,725 yuan/mt during the session. Towards the close, it rebounded slightly to maintain a fluctuating trend, ultimately closing up at 23,820 yuan/mt, up 90 yuan/mt or 0.38%. Trading volume increased to 53,312 lots, and open interest increased by 337 lots to 78,650 lots.