SMM February 27 News:
Overnight, the LME zinc contract opened at $3,388/mt. At the beginning of the session, bulls and bears intertwined, and LME zinc briefly rose to a high of $3,398.5/mt. Subsequently, bears increased their positions, and the center of LME zinc moved downward, touching a low of $3,338/mt during European trading hours. Later, LME zinc fluctuated and finally closed down at $3,366.5/mt, down $20.5/mt, a decline of 0.61%. The trading volume increased to 9,909 lots, and open interest increased by 616 lots to 230,000 lots. Overnight, LME zinc recorded a small bearish candlestick. Amid tariff chaos and the advancement of US-Iran negotiations, the US dollar remained strong, non-ferrous metals were under pressure, and the center of LME zinc moved downward. LME zinc is expected to fluctuate today.
Overnight, the most-traded SHFE zinc 2604 contract opened at 24,525 yuan/mt. At the beginning of the session, SHFE zinc fluctuated downward all the way to a low of 24,470 yuan/mt. Later, bears increased their positions, and SHFE zinc fluctuated upward, touching a high of 24,625 yuan/mt towards the end of the session, finally closing flat at 24,570 yuan/mt. The trading volume decreased to 43,454 lots, and open interest increased by 205 lots to 92,967 lots. Overnight, SHFE zinc recorded a small bullish candlestick. The market focused on the uncertainty of tariff policies, while domestically, the market was still in the post-holiday recovery phase, and domestic inventory accumulated. SHFE zinc mainly fluctuated.
Data Source Statement: Except for public information, other data are processed by SMM based on public information, market communication, and relying on SMM's internal database model, for reference only and do not constitute decision-making advice.
