Zinc Price Center Moved Higher, Focus on the Peak Consumption Season and Smelter Raw Material Supply [SMM Zinc Morning Comment]
[SMM Zinc Morning Comment] Overnight, SHFE zinc posted a bullish candlestick with no upper shadow, with support from the 5/10-day daily average below. Driven by the LME market overnight, zinc prices fluctuated upward, but on the fundamentals side, April production at China's domestic smelters is expected to increase by more than 10,000 mt MoM. At elevated zinc prices, downstream enterprises showed lower purchasing enthusiasm, inventory destocking slowed down, and weak domestic fundamentals are expected to limit its upside. Focus on......