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SHFE Zinc Records Five Consecutive Declines, in the Doldrums Amid Tug-of-War Between Longs and Shorts [SMM Zinc Futures Brief Review]

iconSep 19, 2025 17:56
[SHFE ZINC RECORDS FIVE CONSECUTIVE DAYS OF DECLINE FLUCTUATES CONSIDERABLY AMID TUG-OF-WAR BETWEEN LONGS AND SHORTS] The most-traded SHFE zinc 2510 contract opened at 22,055 yuan/mt. After the opening, it reached a high of 22,115 yuan/mt. Subsequently, a fierce tug-of-war between longs and shorts ensued, with the center of SHFE zinc fluctuating considerably around the daily average. Near the end of the session, it hit a low of 22,025 yuan/mt, finally closing at 22,045 yuan/mt, up 10 yuan/mt or 0.05%. Trading volume decreased to 77,398 lots, while open interest fell by 9,913 lots to 61,844 lots.

SMM September 19:

       The most-traded SHFE zinc 2510 contract opened at 22,055 yuan/mt. After opening, it touched a high of 22,115 yuan/mt, then fluctuated considerably around the daily average line as bulls and bears fiercely competed. Approaching the close, it hit a low of 22,025 yuan/mt, and finally closed up at 22,045 yuan/mt, gaining 10 yuan/mt, an increase of 0.05%. Trading volume decreased to 77,398 lots, and open interest fell by 9,913 lots to 61,844 lots. SHFE zinc recorded its fifth consecutive decline today, with various moving averages exerting pressure above. Current downstream peak season characteristics are weak. Although domestic supply remains relatively loose, overseas inventories continue to decrease. SHFE zinc is expected to remain in the doldrums in the short term.

 

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