SMM Zinc Morning Meeting Summary: Antamina Mine Suspension, LME Zinc Rebounds from Low Levels. Overnight, LME zinc opened at $2,606/mt. At the beginning of the session, SHFE zinc touched a low of $2,606/mt. After opening, SHFE zinc fluctuated around the daily average line, fluctuating upward during the night session, reaching a high of $2,677.5/mt before LME zinc fell back to near the daily average line, finally closing up at $2,635.5/mt, an increase of $34.5/mt, a gain of 1.33%.

SMM Zinc Morning Comment: Consumption Concerns Persist, SHFE Zinc Lacks Upward Momentum. Overnight, LME zinc opened at $2,606/mt. At the beginning of the session, SHFE zinc dipped to $2,606/mt. After opening, SHFE zinc fluctuated around the daily average line, then fluctuated upward during the night session, reaching a high of $2,677.5/mt before LME zinc fell back to near the daily average line, finally closing up at $2,635.5/mt, an increase of $34.5/mt, a rise of 1.33%...

According to customs data, China's exports of unwrought zinc alloy in March were 224.05 mt, up 47.96% MoM, with a YoY decline of 29.15%. The cumulative exports from January to March were 907.26 mt, up 11.77% YoY. Meanwhile, China's imports of unwrought zinc alloy in March were 3,536.77 mt, down 8.7% MoM, with a YoY decline of 13.01%. The cumulative imports from January to March were 10,991.44 mt, up 1.36% YoY

【Macro Slightly Warms Up, SHFE Zinc Center Moves Upward】: The most-traded SHFE zinc 2506 contract opened at 22,400 yuan/mt. At the beginning of the session, shorts reduced their positions, and SHFE zinc quickly rose above the daily average line, reaching a high of 22,635 yuan/mt. Subsequently, longs reduced their positions, and SHFE zinc dropped back slightly, fluctuating near the daily average line. It finally closed up at 22,460 yuan/mt, gaining 175 yuan/mt, an increase of 0.79%. The trading volume increased to 218,000 lots, while the open interest decreased by 3,102 lots to 127,000 lots. SHFE zinc recorded a bullish candlestick, with the 20/60 daily average lines forming resistance above and the lower Bollinger Band providing support below...

Guangdong Zinc: Futures Market Center Shifted Upward, Market Trading Pace Slowed Down. The mainstream transaction price of Guangdong 0# zinc ranged from 22,835 to 23,120 yuan/mt. The mainstream brands quoted a premium of 450 yuan/mt against the 2506 contract and a premium of 20 yuan/mt against Shanghai spot. The Shanghai-Guangdong price spread narrowed...