Published: Aug 5, 2024 16:28
【Bearish Macro Sentiment Intensifies Decline in Shanghai Zinc】The main 2409 contract of Shanghai zinc opened at 22,510 yuan/ton, with bulls and bears vying for control at the beginning of the session. Shanghai zinc fluctuated near 22,500 yuan/ton. During lunchtime, global stock markets fell across the board, reigniting concerns about an economic crisis. As short positions increased, Shanghai zinc continued to decline, reaching a low of 22,120 yuan/ton towards the end of the session. It finally closed at 22,150 yuan/ton, down 710 yuan/ton or 3.11%. Trading volume increased to 24.7 million lots, while open interest grew by 5,521 lots to 89,413 lots. Shanghai zinc recorded a large bearish candlestick...

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