






SMM News on August 14:
The most-traded SHFE zinc 2510 contract opened at 22,575 yuan/mt. In the early session, SHFE zinc hit a high of 22,610 yuan/mt. After the opening, SHFE zinc fluctuated downward below the daily average line, reaching a low of 22,440 yuan/mt near the close. It eventually closed down at 22,495 yuan/mt, down 75 yuan/mt or 0.33%. Trading volume increased to 39,649 lots, and open interest rose by 1,264 lots to 83,202 lots. Overnight, SHFE zinc recorded a bearish candlestick, with the 5-day moving average acting as resistance. On Thursday, SMM zinc ingot inventory increased by 10,000 mt MoM to 129,200 mt. With insufficient fundamental support, bulls reduced their positions, and SHFE zinc pulled back during the day.
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