SMM Morning Comment For Zinc Market On August 29

SHANGHAI, Aug 29 (SMM) –

Overnight, LME was closed on the British summer public holiday. The most active SHFE 2310 zinc contract prices closed at 20,765 yuan/mt, up 95 yuan/mt or 0.46%. Trading volume stood at 47,784 lots, and open interest was 107,000 lots. KDJ moves up as a whole, and domestic favorable policies prompted a pick-up in macro sentiment. In addition, September and October are traditional peak seasons, leading to an overall rebound in SHFE zinc prices. Market participants need to pay attention to the subsequent impact of the implementation of macro policies on price trends.