Macro Sentiment Turns Bullish, SHFE Zinc Rallies [SMM Zinc Futures Brief Review]

SMM February 14 News: The most-traded SHFE zinc 2503 contract opened at 23,775 yuan/mt. In early trading, bears reduced positions, driving SHFE zinc upward to an intraday high of 24,145 yuan/mt, and finally closed higher at 24,125 yuan/mt, up 350 yuan/mt or 1.47%. Trading volume decreased to 139,000 lots, and open interest fell by 812 lots to 83,893 lots. SHFE zinc recorded a long bullish candlestick as macro sentiment continued to ease. Focus remains on the recovery of domestic demand. LME inventory continued destocking, while domestic inventory buildup was below expectations. SHFE zinc remains supported and is expected to fluctuate at high levels in the evening session.

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