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Insufficient fundamental support, SHFE zinc remains at a low level [SMM zinc futures brief comment]

iconJun 10, 2025 15:12
[Insufficient Fundamental Support Keeps SHFE Zinc at Low Levels]: The most-traded SHFE zinc 2507 contract opened at 21,930 yuan/mt. Early in the session, SHFE zinc reached a high of 21,930 yuan/mt, then fluctuated rangebound around the daily average line. It hit a low of 21,760 yuan/mt during the session, eventually closing down at 21,845 yuan/mt, a decline of 80 yuan/mt or 0.36%. Trading volume increased to 85,466 lots, while open interest decreased by 307 lots to 135,000 lots...

SMM, June 10:

The most-traded SHFE zinc 2507 contract opened at 21,930 yuan/mt. Early in the session, SHFE zinc reached a high of 21,930 yuan/mt, then fluctuated rangebound around the daily average line. It hit a low of 21,760 yuan/mt during the session and eventually closed down at 21,845 yuan/mt, down 80 yuan/mt or 0.36%. Trading volume increased to 85,466 lots, while open interest decreased by 307 lots to 135,000 lots. SHFE zinc recorded a bearish candlestick, with the lower Bollinger Band forming resistance. Zinc concentrate TCs in June continued to rise, and smelter production is expected to increase significantly MoM. The supply side remains under pressure, while the consumption side is also weak. During the day, SHFE zinc maintained a low-level operation.

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