Imported zinc ore supplements domestic supply, while SHFE zinc's gains are insufficient [SMM Zinc Futures Brief Comment]

Published: May 20, 2025 17:19

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[Imported Zinc Ore Supplements Domestic Supply, SHFE Zinc Gains Insufficient]: The most-traded SHFE zinc 2507 contract opened at 22,215 yuan/mt. Early in the session, SHFE zinc dipped to 22,180 yuan/mt. Subsequently, after the opening, SHFE zinc fluctuated rangebound around the daily average line, reaching a high of 22,260 yuan/mt during the morning session, and finally closed up at 22,220 yuan/mt...

SMM, May 20:

The most-traded SHFE zinc 2507 contract opened at 22,215 yuan/mt. In the early session, SHFE zinc dipped to 22,180 yuan/mt. Subsequently, it fluctuated rangebound around the daily average line after the opening bell, reaching a high of 22,260 yuan/mt during the morning session. It eventually closed higher at 22,220 yuan/mt, up 5 yuan/mt or 0.02%. Trading volume increased to 43,251 lots, while open interest rose by 2,611 lots to 92,994 lots. SHFE zinc recorded a bullish candlestick, with the 5-day moving average acting as resistance above. Imports of zinc concentrates in April rose 37.6% MoM to 494,700 mt. The continuous replenishment of domestic zinc ore supply by imported zinc ore kept SHFE zinc maintaining a fluctuating trend.

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