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Home / Metal News / SHFE Zinc Prices Fall amid Weak Fundamentals

SHFE Zinc Prices Fall amid Weak Fundamentals

Dec 20, 2022 17:10

Source: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.

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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In the spot market, on Aug 26, the premiums of Jinchuan nickel were quoted at 4,000-4,500 yuan/mt, with an average price of 4,250 yuan/mt, down 50 yuan/mt from the previous trading day.

Aug 26, 2022 11:24

SMM Comments

Transactions were Poor as SHFE Nickel Further Increased and Spot Premiums Slightly Declined

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Aug 26, 2022 10:00

SMM Comments

SMM Morning Comments (Aug 26): Base Metals Closed Mixed ahead of Jackson Hole

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SMM Comments

Zinc in Tianjin: Spot Premiums Lack Strong Momentum

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Aug 24, 2022 10:00

SMM Comments

SMM Morning Comments (Aug 24): Base Metals Closed Mixed Disappointing Economic Readings

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Aug 22, 2022 09:32

SMM Comments

SHFE Lead Contract Fell Slightly, and the Discounts of Secondary Refined Lead Narrowed

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SMM Comments

Due to Power Rationing, Steel Mills in South-west Regions Suspended the Production

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Aug 17, 2022 10:11

SMM Comments

Spot Transactions were Poor as SHFE Lead Rose while LME Lead Fell Overnight

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SMM Comments

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SHFE Zinc Prices Fall amid Weak Fundamentals

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