SHFE zinc prices weakened amid supply surplus

Published: Oct 10, 2023 17:22

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Today, the most active SHFE 2311 zinc contract prices opened at 21560 yuan/mt before closing at 21200 yuan/mt, down 665 yuan/mt or 3.04%.

Today, the most active SHFE 2311 zinc contract prices opened at 21560 yuan/mt before closing at 21200 yuan/mt, down 665 yuan/mt or 3.04%. Trading volume increased 112,000 and stood at 228,000 lots, and open interest decreased 11153 and were 109,000 lots.

The International Lead and Zinc Study Group (ILZSG) stated that due to lower-than-expected global demand growth in 2023, the zinc market will have a surplus of 248,000 tons. Market risk aversion has sharply increased.

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