SHFE zinc recorded a bullish candlestick, and the short-term price is expected to continue to consolidate at highs [SMM zinc morning comment]
[SMM Zinc Morning Comment] Last Friday, the most-traded SHFE zinc 2608 contract opened at 24,005 yuan/mt. In early trading, SHFE zinc moved sideways along the daily average line, edging down to 23,940 yuan/mt during the session. Subsequently, bears reducing positions drove the price to rise continuously, with SHFE zinc steadily climbing above the daily average line and hitting a high of 24,420 yuan/mt. In the late session, SHFE zinc consolidated at highs with small fluctuations, eventually closing up at 24,400 yuan/mt, up 455 yuan/mt or 1.90%. Trading volume increased to 76,557 lots, while open interest decreased by 2,028 lots to 108,000 lots.