SHFE Zinc Recorded a Bearish Candlestick, Focus on Tariff Developments in the Evening [SMM Zinc Futures Brief Review]

SMM April 2 News: The most-traded SHFE zinc 2505 contract opened at 23,305 yuan/mt. At the beginning of the session, the bulls increased their positions, causing the SHFE zinc to fluctuate upward above the daily average line. Subsequently, a fierce battle between the bulls and bears ensued, with the center of SHFE zinc fluctuating around 23,400 yuan/mt. It finally closed at 23,380 yuan/mt, down 235 yuan/mt, a decrease of 1%. The trading volume increased to 191,000 lots, and the open interest rose by 2,027 lots to 111,000 lots. SHFE zinc recorded a negative bar, with various moving averages exerting pressure above. The current domestic fundamental expectations for incremental growth remain, and the recent spot trade atmosphere has been positive. Overseas tariff disturbances persist, while social inventory continues to destock. It is expected that zinc prices will mainly fluctuate in the short term, and subsequent attention can be paid to the dynamics of "reciprocal tariffs." 》Order to view SMM metal spot historical prices