SHFE Zinc Closes Higher Amid Mixed Moving Averages Pressure

【SHFE Zinc Recorded a Bullish Candlestick, with Various Moving Averages Exerting Downward Pressure Above It】

SMM April 1: The most-traded SHFE zinc 2505 contract opened at 23,530 yuan/mt. In the early session, SHFE zinc fluctuated around the daily average line, then rose above the daily average line as shorts reduced positions, reaching a high of 23,660 yuan/mt. It finally closed at 23,615 yuan/mt, up 160 yuan/mt, or 0.68%. Trading volume decreased to 166,000 lots, and open interest fell by 8,724 lots to 109,000 lots. SHFE zinc recorded a bullish candlestick, with various moving averages exerting pressure above and the lower Bollinger Band providing support below. Fundamentally, supply is expected to increase slightly in April, while downstream consumption remains relatively average without significant seasonal characteristics. Zinc prices are expected to fluctuate in the short term, with continued attention to the US tariff policies.