SHFE Zinc Prices Fall amid Weak Fundamentals

Published: Dec 20, 2022 17:10

Source: SMM

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The most-traded SHFE 2302 zinc contract fluctuated at 23,400 yuan/mt and fell to 23,230 yuan/mt after opening at 23,420 yuan/mt.

SHANGHAI, Dec 20 (SMM) - The most-traded SHFE 2302 zinc contract fluctuated at 23,400 yuan/mt and fell to 23,230 yuan/mt after opening at 23,420 yuan/mt. SHFE zinc finally closed at 23,325 yuan/mt, down 5,30 yuan/mt or 2.22%. The transactions increased to 87,046 lots. The open interest increased 1,367 lots to 71,536 lots. SHFE zinc tested the 5-day moving average. The US Federal Reserve continued to release hawkish remarks, and the negative sentiment increased. At the same time, the market expected that the supply will increase. SHFE zinc remained weak amid weak fundamentals.

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