Market Tug-of-War Between Longs and Shorts, Prices Continue to Consolidate at Highs [SMM Zinc Futures Brief]
[Tug-of-War Between Longs and Shorts, Prices Continue to Consolidate at Highs] The most-traded SHFE zinc 2608 contract opened at 24,280 yuan/mt. After the opening, bulls reduced positions, pushing SHFE zinc down to test a low of 24,125 yuan/mt. Subsequently, amid the tug-of-war between longs and shorts, SHFE zinc consolidated below the daily average line. At the end of the session, bears reduced positions, and SHFE zinc continued to rise to touch a high of 24,385 yuan/mt. It finally closed up at 24,350 yuan/mt, up 60 yuan/mt or 0.25%. Trading volume increased to 71,463 lots, while open interest decreased by 3,921 lots to 95,454 lots.....