Domestic Processing Fees Continue to Rise, SHFE Zinc May Fluctuate in the Short Term [SMM Zinc Futures Brief]

SMM March 14 News: The most-traded SHFE zinc 2504 contract opened at 24,070 yuan/mt. In early trading, the center of SHFE zinc fluctuated around 24,200 yuan/mt, reaching a high of 24,260 yuan/mt during the session. Subsequently, as bulls reduced positions, SHFE zinc fluctuated downward below the daily average line. By the end of the session, bears reduced positions, allowing SHFE zinc to recover part of its losses, ultimately closing up at 24,140 yuan/mt, an increase of 25 yuan/mt or 0.10%. Trading volume decreased to 9,997 lots, and open interest fell by 1,916 lots to 59,469 lots. SHFE zinc recorded a bullish candlestick, with the upper Bollinger Band forming resistance and the 20/60-day moving averages providing support below. Fundamentally, domestic processing fees are currently continuing to rise, with expectations of further supply-side increases remaining, while downstream consumption is gradually improving. In the short term, SHFE zinc is expected to fluctuate upward. 》Subscribe to view SMM historical spot metal prices