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Home / Metal News / Macro Sentiment Bearish, SHFE Zinc Center Moves Down [SMM Zinc Futures Brief Review]

Macro Sentiment Bearish, SHFE Zinc Center Moves Down [SMM Zinc Futures Brief Review]

iconDec 27, 2024 18:10
Source:SMM
[Bearish Macro Sentiment, SHFE Zinc Center Moves Downward]: The most-traded SHFE zinc 2502 contract opened at 25,420 yuan/mt. At the beginning of the session, bulls reduced positions, and SHFE zinc fluctuated downward throughout the session, hitting a low of 25,140 yuan/mt near the close. Later, the center moved up slightly, and it finally closed lower at 25,175 yuan/mt....

SMM reported on December 27: The most-traded SHFE zinc 2502 contract opened at 25,420 yuan/mt. At the beginning of the session, longs reduced their positions, and SHFE zinc fluctuated downward throughout the session, hitting a low of 25,140 yuan/mt near the close. Later, the center slightly moved upward, and the contract ultimately closed lower at 25,175 yuan/mt, down by 220 yuan/mt or 0.87%. Trading volume increased to 155,000 lots, while open interest decreased by 6,706 lots to 144,000 lots. SHFE zinc recorded a large bearish candlestick. Macro sentiment was bearish, with some funds exiting the market. Spot trading weakened, reducing support for zinc prices. SHFE zinc is expected to fluctuate and consolidate tonight.

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