SMM4 29th SMM0# Zinc Ningbo Brand rising Water

[SMM Zinc Morning Comment] Overnight, the most-traded SHFE zinc 2603 contract opened at 24,350 yuan/mt, initially dipping to 24,320 yuan/mt. Subsequently, bears reduced positions and exited, causing the price to gradually rebound and fluctuate higher, rising above the daily average line and touching a high of 24,615 yuan/mt. It hovered at highs near the close, finally settling up at 24,600 yuan/mt, an increase of 205 yuan/mt or 0.84% from the opening price.

[SMM Morning Meeting Summary: Precious Metals Decline and Inventory Drop, LME Zinc Maintains Fluctuating Trend] Overnight, the LME zinc contract opened at $3,324/mt, initially reaching a high of $3,327.5/mt before its center quickly dropped to $3,271.5/mt. During the European trading session, the price gradually rebounded with fluctuations, closing above the daily average line by the end of the session. It finally settled at $3,298.5/mt, down $7/mt, a decrease of 0.21%.

[Zinc Ingot Inventory Continues to Accumulate, Zinc Prices Weaken During the Day]: The most-traded SHFE zinc 2603 contract opened at 24,800 yuan/mt, touched a high of 24,815 yuan/mt early in the session, then fluctuated downward throughout, approaching a low of 24,390 yuan/mt near the close, and finally settled down at 24,395 yuan/mt, falling 375 yuan/mt, a decline of 1.51%.