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

Published: Mar 26, 2025 16:56

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The Supply-Demand Pattern Remains Unchanged, SHFE Zinc Fluctuates: 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 price center to decline and fluctuate around 24,130 yuan/mt, with a low of 24,080 yuan/mt during the period. Later, bears continued to exit the market, pushing the price center up to around 24,175 yuan/mt. The contract finally closed at 24,155 yuan/mt, up 30 yuan/mt, a gain of 0.12%. The trading volume increased to 176,000 lots, while the open interest decreased by 6,347 lots to 125,000 lots.

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

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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