The supply-demand pattern remained unchanged, and SHFE zinc fluctuated. [SMM Zinc Futures Brief Review]

SMM March 26: The most-traded SHFE zinc 2505 contract opened at 24,215 yuan/mt. At the beginning of the session, bears reduced their positions, driving SHFE zinc higher to touch a high of 24,270 yuan/mt. Subsequently, bulls reduced their positions, causing the center of SHFE zinc to decline and fluctuate around 24,130 yuan/mt, with a low of 24,080 yuan/mt. Later, bears continued to exit, pushing the center of SHFE zinc up to around 24,175 yuan/mt. The contract finally closed at 24,155 yuan/mt, up 30 yuan/mt, or 0.12%. Trading volume increased to 176,000 lots, while open interest decreased by 6,347 lots to 125,000 lots. SHFE zinc recorded a large cross star. Fundamentally, the market is concerned about the implementation of a new round of tariffs, putting pressure on overseas zinc consumption expectations, while domestic consumption has not shown any outperformance. However, benchmark negotiations are still ongoing, and the market remains in a wait-and-see mode. SHFE zinc is expected to mainly fluctuate at high levels. 》Order to view SMM metal spot historical prices