SHFE Zinc Futures Warrants Surge by 2,971 MT, Shanghai and Tianjin See Major Increases

[SMM Zinc Morning Comment] Overnight, the most-traded SHFE zinc 2604 contract opened at 24,410 yuan/mt. At the beginning of the session, zinc briefly fell to a low of 24,370 yuan/mt, then bulls increased positions, lifting the price center. Zinc fluctuated upward and touched a high of 24,540 yuan/mt by the end of the session, with the closing price at the intraday high. It finally settled at 24,540 yuan/mt, up 35 yuan/mt or 0.14%. Trading volume decreased to 17,804 lots, while open interest increased by 515 lots to 79,245 lots.

[SMM Morning Meeting Summary: US December Retail Sales Unexpectedly Stagnate, LME Zinc Center Shifts Upward] Overnight, the LME zinc contract opened at $3,367.5/mt. At the beginning of the session, bulls and bears were intertwined, and LME zinc experienced wide swings along the daily average line, touching a low of $3,351/mt during the period. Subsequently, bulls increased their positions, and LME zinc rose during the night session, reaching a high of $3,405/mt towards the end of the session. It finally closed up at $3,398/mt, an increase of $14/mt, a gain of 0.47%. The trading volume increased to 8,008 lots, and the open interest increased by 1,328 lots to 231,000 lots.

[Zinc Ingot Inventory Accumulates, Zinc Prices Weaken During the Day]: The most-traded SHFE zinc 2604 contract opened at 24,510 yuan/mt. At the beginning of the session, bulls increased their positions, leading to a brief rise in SHFE zinc and an upward shift in the price center. Subsequently, bears added to their positions, causing SHFE zinc to decline and test a low of 24,370 yuan/mt. It then fluctuated along the daily moving average, consolidating for the most part, and finally closed down at 24,505 yuan/mt, falling 60 yuan/mt, or 0.24%. Trading volume decreased to 42,870 lots, while open interest increased by 1,001 lots to 78,739 lots.