The supply-demand pattern remained relatively stable, and SHFE zinc experienced consolidation. [SMM Zinc Futures Brief Review]

SMM March 25 News: The most-traded SHFE zinc 2505 contract opened at 24,105 yuan/mt. At the beginning of the session, bulls reduced their positions, leading to a decline in SHFE zinc, which touched a low of 24,070 yuan/mt. Subsequently, the center of SHFE zinc moved up to oscillate near the daily average line, and finally closed down at 24,125 yuan/mt, a decrease of 35 yuan/mt, or 0.31%. The trading volume dropped to 147,000 lots, and the open interest decreased by 2,498 lots to 131,000 lots. SHFE zinc recorded a negative bar. Domestic refineries turned profitable in March, and refined zinc production is expected to increase. During the traditional peak season of "Golden March and Silver April," consumption performance was moderate, but the increment was insufficient. Under the situation of both supply and demand increasing, SHFE zinc is expected to mainly fluctuate at high levels.

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