[Domestic and Overseas Inventory Trends Diverge, SHFE Zinc Expected to Be in the Doldrums] The most-traded SHFE zinc 2510 contract opened at 22,135 yuan/mt. After the opening, a fierce battle between longs and shorts ensued, with the center of SHFE zinc fluctuating rangebound around the daily average. It finally closed down at 22,170 yuan/mt, falling 140 yuan/mt, or 0.63%. Trading volume increased to 156,000 lots, and open interest rose by 6,801 lots to 115,000 lots.....

[smm zinc morning comment] overnight, the lme zinc opened at $2,811/mt. at the beginning of the session, lme zinc briefly fell below the daily average line, then recovered its losses and continued to rise above the daily average, reaching a high of $2,818.5/mt. however, an increase in short positions caused the center of lme zinc to continuously decline below the daily average...

[smm morning meeting summary: continuous macro disturbances lme zinc center continuously declines] overnight, lme zinc opened at $2,811/mt. at the beginning of the session, lme zinc briefly declined below the daily average line, then recovered its losses and continued to rise above the daily average line, reaching a high of $2,818.5/mt. however, an increase in bear positions caused the lme zinc center to continuously decline below the daily average line, hitting a low of $2,753/mt during the night. it finally closed down at $2,764/mt, a decrease of $43/mt or 1.53%. trading volume increased to 84,153 lots, and open interest increased by 964 lots to 192,000 lots...

[No Significant Improvement in Fundamentals, SHFE Zinc Expected to Remain in the Doldrums] The most-traded SHFE zinc 2510 contract opened at 22,355 yuan/mt. At the beginning of the session, a fierce battle between bulls and bears took place, with the center of SHFE zinc fluctuating around 22,350 yuan/mt. Subsequently, as the bulls reduced their positions, SHFE zinc fell to a low of 22,290 yuan/mt. By the end of the session, it recaptured some of its losses and closed up at 22,310 yuan/mt, an increase of 40 yuan/mt or 0.18%. Trading volume increased to 115,000 lots, while open interest decreased by 891 lots to 108,000 lots.

[SMM Zinc Morning Comment] Overnight, LME zinc opened at $2,804.5/mt. At the beginning of the session, LME zinc fluctuated around the daily average. Entering the European trading hours, LME zinc dropped below the daily average, reaching a low of $2,787.5/mt. Subsequently, as bears reduced positions, LME zinc fluctuated upward, peaking at $2,827/mt. Towards the end of the session, LME zinc pulled back slightly, closing up at $2,807/mt, an increase of $1.5/mt or 0.05%. Trading volume increased to 73,711 lots, while open interest decreased by 1,817 lots to 191,000 lots...

[smm morning meeting summary: us fed turmoil continues lme zinc fluctuates considerably] overnight, lme zinc opened at $2,804.5/mt. initially, it fluctuated around the daily average. during european trading hours, lme zinc dropped below the daily average, reaching a low of $2,787.5/mt. subsequently, as bears reduced positions, lme zinc fluctuated upward, peaking at $2,827/mt. towards the end of the session, lme zinc pulled back slightly, closing at $2,807/mt, up $1.5/mt, or 0.05%. trading volume increased to 73,711 lots, while open interest decreased by 1,817 lots to 191,000 lots.

[Improvement in Some End-User Export Orders, SHFE Zinc Expected to Maintain Fluctuating Trend in Short Term] The most-traded SHFE zinc 2510 contract opened at 22,310 yuan/mt. At the beginning of the session, with bears reducing positions, SHFE zinc fluctuated upward, reaching above the daily average line and peaking at 22,395 yuan/mt. Subsequently, as bears increased their positions, SHFE zinc declined, hitting a low of 22,245 yuan/mt, and finally closed at 22,270 yuan/mt, down 125 yuan/mt, or 0.56%. Trading volume decreased to 93,174 lots, while open interest increased by 3,459 lots to 109,000 lots.

The traditional off-season is about to end. Recently, due to the SCO summit and the military parade, galvanizing production has slightly weakened under the influence of environmental protection-driven production restrictions in the north. How will future demand look? Will the peak season be robust?

[SHFE Zinc Morning Comment] Overnight, LME zinc was closed for the Summer Bank Holiday. SHFE zinc opened at 22,355 yuan/mt. At the start of the session, bears increased their positions, causing SHFE zinc to drop sharply and hit a low of 22,260 yuan/mt. Subsequently, bulls added to their positions, leading to a slight upward shift in the center of SHFE zinc. Then, intense competition between bulls and bears caused the center of SHFE zinc to fluctuate rangebound around 22,300 yuan/mt. It finally closed down at 22,295 yuan/mt, a decrease of 100 yuan/mt or 0.45%. Trading volume decreased to 36,289 lots, while open interest increased by 2,542 lots to 108,000 lots...

[smm morning meeting summary: lme zinc market closed for bank holiday domestic shfe zinc records a bearish candlestick] overnight, the lme zinc market was closed for the summer bank holiday. shfe zinc opened at 22,355 yuan/mt. at the beginning of the session, with increased short positions, shfe zinc plunged to a low of 22,260 yuan/mt. subsequently, as long positions increased, the center of shfe zinc prices slightly rose. then, intense competition between bulls and bears caused the price center of shfe zinc to fluctuate rangebound around 22,300 yuan/mt. it finally closed down at 22,295 yuan/mt, a decrease of 100 yuan/mt, or 0.45%. trading volume decreased to 36,289 lots, while open interest increased by 2,542 lots to 108,000 lots...