






SMM News on July 14:
The most-traded SHFE zinc 2508 contract opened at 22,215 yuan/mt. Subsequently, longs and shorts engaged in fierce competition, with SHFE zinc fluctuating rangebound around the daily average line. During this period, SHFE zinc reached a high of 22,265 yuan/mt and a low of 22,130 yuan/mt. It finally closed at 22,250 yuan/mt, down 130 yuan/mt or 0.58%. Trading volume increased to 136,000 lots, while open interest decreased by 13,455 lots to 94,177 lots. SHFE zinc recorded a long lower shadow bullish candlestick, with the upper Bollinger Bands forming resistance and the 20/60-day moving averages providing support. Currently, overseas inventories have increased significantly, while domestic fundamental consumption remains sluggish, which may exert certain pressure on zinc prices in the evening session.
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