LME Drives SHFE Zinc Higher, But Upside Pressure Remains [SMM Zinc Futures Brief Comment]
[LME drives SHFE zinc higher but resistance still caps upside] The most-traded SHFE zinc 2607 contract opened at 24,700 yuan/mt. After opening, SHFE zinc quickly hit a high of 24,795 yuan/mt. Subsequently, bulls reduced positions, and SHFE zinc quickly fell to 24,585 yuan/mt. Then, bears reduced positions, and SHFE zinc pared back and recovered some of its losses. It ended up at 24,760 yuan/mt, up 130 yuan/mt, or 0.53%. Trading volume fell to 98,537 lots, and open interest decreased by 2,008 lots to 89,897 lots.....