SMM, April 15:
The most-traded SHFE zinc 2605 contract opened at 23,670 yuan/mt. SHFE zinc edged up at the beginning of the session, touching a high of 23,810 yuan/mt before pulling back to near the daily average line. During the session, SHFE zinc dipped to a low of 23,665 yuan/mt, then moved sideways around the daily average line. It eventually closed higher at 23,715 yuan/mt, up 55 yuan/mt or 0.23%. Trading volume increased by 2,127 lots to 37,959 lots, and open interest decreased by 2,165 lots to 72,056 lots. SHFE zinc posted a bullish candlestick, with the Bollinger Bands mid-track providing support. The potential resumption of US-Iran negotiations eased macro sentiment in the market, and SHFE zinc edged higher intraday. However, mediocre performance of downstream zinc consumption in China limited the upside room for SHFE zinc, and zinc prices are expected to maintain a fluctuating trend in the short term.
The SHFE zinc 2604 contract opened at 23,620 yuan/mt during the session. SHFE zinc maintained a fluctuating trend after the opening and eventually closed higher at 23,605 yuan/mt, up 5 yuan/mt or 0.02%. Trading volume increased to 385 lots, open interest increased by 95 lots to 4,605 lots, delivery volume was 23,025 mt, and the settlement price was 23,658 yuan/mt.
