Shanghai Zinc Prices Soar 1.24% Amid Tight Supply Sentiment, Trading Volume Jumps

Published: Aug 22, 2024 16:46

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【Tight Sentiment on the Supply Side Drives Up Shanghai Zinc Prices】: The main 2410 contract of Shanghai zinc opened at 23,645 yuan/ton. With the increase in long positions at the beginning of the session, Shanghai zinc prices surged rapidly before falling back to near the daily moving average due to insufficient upward momentum. In the afternoon, long positions continued to gain strength, pushing the Shanghai zinc price center up to around 23,740 yuan/ton, during which it peaked at 23,815 yuan/ton. It finally closed at 23,670 yuan/ton, up 290 yuan/ton or 1.24%. Trading volume increased to 1.87 million contracts, and open interest rose by 10,248 contracts to 112,358 contracts. Shanghai zinc recorded a positive candlestick....

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