Fundamentals show strong supply and weak demand, SHFE zinc declines during the day [SMM zinc futures brief comment]

Published: Jun 13, 2025 16:04

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[Fundamentals Indicate Strong Supply and Weak Demand, SHFE Zinc Declines During the Day]: The most-traded SHFE zinc 2507 contract opened at 22,000 yuan/mt. During the morning session, SHFE zinc oscillated around the daily average line, reaching a high of 22,090 yuan/mt. Subsequently, it declined steadily during the afternoon session, hitting a low of 21,745 yuan/mt near the close, and eventually closed down at 21,815 yuan/mt...

SMM News on June 13:

The most-traded SHFE zinc 2507 contract opened at 22,000 yuan/mt. During the morning session, SHFE zinc oscillated around the daily average line, hitting a high of 22,090 yuan/mt. Subsequently, it declined steadily in the afternoon session, reaching a low of 21,745 yuan/mt near the close. It finally closed at 21,815 yuan/mt, down 215 yuan/mt or 0.98%. Trading volume increased to 126,000 lots, while open interest rose by 1,317 lots to 123,000 lots. SHFE zinc recorded a bearish candlestick, with the lower Bollinger Band forming resistance. Smelter production continued to increase, while consumption also entered the off-season. The pattern of strong zinc supply and weak demand persisted, with insufficient fundamental support. During the day, SHFE zinc continued to decline.

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