SHFE Zinc Moved Lower Driven by LME, Focus on Macro Marginal Changes [SMM Zinc Morning Comment]
[SMM Zinc Morning Comment] Overnight, the most-traded SHFE zinc 2605 contract opened at 23,785 yuan/mt. At the beginning of the session, bears reduced their positions and SHFE zinc edged up, touching the intraday high of 23,905 yuan/mt. Subsequently, bulls reduced their positions, causing prices to fluctuate and pull back. During the session, prices continued to decline, dipping to 23,710 yuan/mt. Towards the end of the session, prices stabilized slightly and rebounded, ultimately closing lower at 23,740 yuan/mt, down 75 yuan/mt or 0.31%.