Macro Sentiment Is Favorable and Shanghai Zinc Rallies with Fluctuations

SMM, May 13: The main Shanghai zinc contract 2407 opened at 23,515 yuan/ton. As shorts increased their positions, Shanghai zinc plunged sharply and fluctuated near 23,365 yuan/ton. Then, as more bulls entered the market and shorts covered their positions, Shanghai zinc recovered from its decline and rallied with fluctuations. The center of gravity shifted up to 23,640 yuan/ton, and then fell back slightly at the end of the session. The final settlement price was…