Zinc social inventories rose 43,500 mt in the 2nd week after CNY holiday

According to SMM, a zinc smelter in northwest China will undergo routine maintenance for 10 days in July, with an estimated impact of around 1,000 mt.

[TCs Continue to Pull Back, Zinc Prices Maintain Fluctuating Trend] The most-traded SHFE zinc 2608 contract opened at 24,215 yuan/mt, then dipped to 24,180 yuan/mt during the session. Subsequently, bears reduced positions, pushing prices higher to touch 24,430 yuan/mt. However, bulls then cut positions, causing prices to pull back and fluctuate around a center of 24,315 yuan/mt. The contract eventually closed up at 24,295 yuan/mt, a gain of 85 yuan/mt, or 0.35%. Trading volume increased to 63,712 lots, while open interest decreased by 2,246 lots to 90,310 lots...