Zinc Ingot Inventory Continues to Decline, SHFE Zinc Rebounds from Lows [SMM Zinc Futures Brief]

Publicado: Jan 9, 2025 18:56
[Zinc Ingot Inventory Continues to Decline, SHFE Zinc Rebounds from Low Levels]: The most-traded SHFE zinc 2502 contract opened at 23,945 yuan/mt, initially dipped to 23,875 yuan/mt, then slowly climbed above the daily moving average, reaching a high of 24,195 yuan/mt near the session's end, and finally closed higher at 24,110 yuan/mt...

SMM, January 9:

The most-traded SHFE zinc 2502 contract opened at 23,945 yuan/mt, dipped to 23,875 yuan/mt in early trading, then slowly climbed above the daily moving average, reaching a high of 24,195 yuan/mt near the close. It eventually settled at 24,110 yuan/mt, up 160 yuan/mt or 0.67%. Trading volume decreased to 75,677 lots, and open interest fell by 2,517 lots to 101,000 lots. Overnight, SHFE zinc recorded a bullish candlestick, with resistance forming at the 5-day moving average. SMM reported on Thursday that zinc ingot inventory fell by 3,700 mt WoW to 58,000 mt. The persistently low inventory, combined with smelter costs, continued to provide some support for zinc prices, leading to a rebound in SHFE zinc from its lows.

 

》Subscribe to Access SMM Historical Spot Metal Prices

 

Declaración de Fuente de Datos: Excepto la información disponible públicamente, todos los demás datos son procesados por SMM basándose en información pública, comunicación de mercado y confiando en el modelo de base de datos interna de SMM. Son solo para referencia y no constituyen recomendaciones para la toma de decisiones.

Para cualquier consulta o para obtener más información, por favor contacte: lemonzhao@smm.cn
Para más información sobre cómo acceder a nuestros informes de investigación, contacte con:service.en@smm.cn
Zinc Ingot Inventory Continues to Decline, SHFE Zinc Rebounds from Lows [SMM Zinc Futures Brief] - Shanghai Metals Market (SMM)