Shanghai Zinc Closes Higher Amid Volatility, Prices Expected to Stay Elevated

Published: Oct 31, 2024 18:23

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**Shanghai Zinc Records a Positive Candle Today; Zinc Prices Expected to Remain High with Volatility**: The main contract for Shanghai zinc, 2412, opened at 24,970 yuan/tonne. At the beginning of the session, Shanghai zinc fluctuated narrowly around the daily average line. Subsequently, long positions increased their holdings, pushing Shanghai zinc up swiftly above the daily average line to a high of 25,480 yuan/tonne. However, as long positions took profits and exited the market towards the end of the session, Shanghai zinc oscillated downwards. It closed with a gain at 25,275 yuan/tonne, up 245 yuan/tonne or 0.98%. Trading volume increased to 235,000 contracts, and open interest rose by 8,818 contracts to 122,000 contracts.....

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