[SMM Morning Comment on Zinc] Overnight, SHFE zinc recorded a bearish candlestick, with the middle rail of the Bollinger Bands acting as resistance. The zinc price returned to the fundamental pattern of increased supply and weak demand, with bears mainly increasing their positions. The bottom is temporarily seen at...

[SMM Morning Meeting Summary: LME Zinc Jumps Initially and Then Pulls Back Overnight, Focus on Inventory Changes] Overnight, LME zinc recorded a bullish candlestick with a long upper shadow, with the 5-day moving average forming resistance above and the 40-day moving average providing support below. Overnight, the US Institute for Supply Management (ISM) Non-Manufacturing Purchasing Managers' Index (PMI) for July slipped to 50.1 from 50.8 in June, while the ISM new orders index fell to 50.3 from 51.3......

[LME continues to play a leading role, SHFE zinc records a bullish candlestick] The most-traded SHFE zinc 2509 contract opened at 22,295 yuan/mt. After the opening, bulls increased their positions, driving SHFE zinc to fluctuate upward above the daily average line. Subsequently, bears reduced their positions, allowing SHFE zinc to continue rising and reaching a high of 22,395 yuan/mt. It eventually closed higher at 22,380 yuan/mt, up 125 yuan/mt or 0.56%. Trading volume decreased to 85,449 lots, while open interest fell by 4,253 lots to 98,472 lots...

[SMM Morning Comment on Zinc] Overnight, SHFE zinc recorded a bearish candlestick, with the 40-day daily average line providing support below. Driven by the strength of LME, the center of SHFE zinc shifted upwards, with bears exiting the market. Pay attention to...

[SMM Morning Meeting Summary: LME Inventory Falls Below 100,000 mt, Strong Support at the Bottom of Zinc Prices] Overnight, LME zinc reversed losses to end in positive territory, with the 60-day moving average providing support below. Overnight, LME zinc inventory once again fell below 100,000 mt, with the concentration of cancelled warrants increasing to over 47%. The concentration of funds from major players was high, and at the same time...

[Domestic social inventory continues to increase, and the center of SHFE zinc's daily candlestick continues to decline] The most-traded SHFE zinc 2509 contract opened at 22,200 yuan/mt. After the opening, bulls reduced their positions, causing SHFE zinc to decline and test a low of 22,125 yuan/mt. Subsequently, bears reduced their positions, and SHFE zinc gradually rose above the daily average line. It touched a high of 22,270 yuan/mt at the end of the session, closing up at 22,255 yuan/mt, up 5 yuan/mt or 0.02%. Trading volume decreased to 9,948 lots, and open interest decreased by 716 lots to 103,000 lots...

SMM's monthly production data for base metals is released at the end of each month, aiming to uncover the true fundamentals for industry chain professionals and investors, and providing a clearer grasp of the future direction of the metals market.

Futures market: Overnight, LME copper opened at $9,626/mt, initially touched a high of $9,665/mt, then fluctuated downward to a low of $9,580.5/mt during the session, and ended rangebound at $9,607/mt by the close, down 1.26%.

[SMM Morning Meeting Summary: Dragged down by LME's doldrums, SHFE zinc's center sinks] Last Friday, SHFE zinc recorded a small bearish candlestick, with the KDJ opening expanding downward. Affected by the decline in LME last Friday, SHFE zinc was in the doldrums, and smelters...

[SMM morning comment on zinc] LME zinc recorded three consecutive negative days last Friday, with the upper middle track of the Bollinger Bands forming suppression. Last Friday's non-farm payrolls data unexpectedly disappointed...