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Fundamentals Weigh on Zinc Prices, SHFE Zinc Struggles to Rise [SMM Zinc Futures Review]

iconOct 22, 2025 17:25
[Fundamentals Weigh on Zinc Prices, SHFE Zinc Struggles to Rise]: The most-traded SHFE zinc 2512 contract opened at 21,955 yuan/mt, dipped to 21,940 yuan/mt early in the session, then fluctuated throughout the day, hitting a high of 22,030 yuan/mt before finally closing up at 22,000 yuan/mt, an increase of 20 yuan/mt, or 0.09%.

SMM Oct. 22:

The most-traded SHFE zinc 2512 contract opened at 21,955 yuan/mt. At the beginning of the session, it touched a low of 21,940 yuan/mt, then fluctuated around the daily average line, reaching a high of 22,030 yuan/mt during the session. It finally closed up at 22,000 yuan/mt, gaining 20 yuan/mt, an increase of 0.09%. Trading volume decreased to 50,871 lots, while open interest increased by 349 lots to 133,000 lots. SHFE zinc formed a bullish candlestick, with the middle Bollinger Band acting as resistance. LME zinc continued to rise amid low LME zinc inventory, but the persistent domestic oversupply continued to weigh on zinc prices. During the day, SHFE zinc struggled to rise and maintained a fluctuating trend.

 

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