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Insufficient fundamental support, zinc prices remain weak [SMM Zinc Futures Brief Comment]

iconMay 23, 2025 15:41
Source:SMM
[Insufficient Fundamental Support, Zinc Prices Remain Weak]: The most-traded SHFE zinc 2507 contract opened at 22,315 yuan/mt. After opening, SHFE zinc prices rose slightly to a high of 22,375 yuan/mt, maintained a fluctuating trend briefly, and then pulled back all the way below the daily average line. Near the end of the trading session, SHFE zinc prices dipped to a low of 22,205 yuan/mt, eventually closing down at 22,215 yuan/mt...

SMM News on May 23:

The most-traded SHFE zinc 2507 contract opened at 22,315 yuan/mt. After the opening, SHFE zinc prices rose slightly to a high of 22,375 yuan/mt, maintained a fluctuating trend for a short period, and then pulled back all the way below the daily average line. Near the end of the trading session, SHFE zinc prices dipped to 22,205 yuan/mt, eventually closing down at 22,215 yuan/mt, down 85 yuan/mt or 0.38%. Trading volume increased to 75,149 lots, and open interest rose by 4,686 lots to 114,000 lots. SHFE zinc recorded a bearish candlestick, with the 60-day moving average providing support below. There has been little macro disturbance recently, and the supply on the fundamentals side remains loose, with no bright spots in downstream consumption either, leaving zinc prices struggling to rise.

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