Macro Sentiment Bearish, SHFE Zinc Plummets Sharply [SMM Zinc Futures Brief Review]

SMM January 15 News: The most-traded SHFE zinc 2503 contract opened at 24,090 yuan/mt. At the beginning of the session, shorts increased their positions, causing SHFE zinc to fluctuate downward, hitting a low of 23,450 yuan/mt by the end of the session and closing down at 23,525 yuan/mt, a drop of 480 yuan/mt or 2%. Trading volume increased to 156,000 lots, and open interest rose by 19,731 lots to 102,000 lots. SHFE zinc recorded a large bearish candlestick. Fundamentally, downstream demand weakened, suppliers actively sold off stocks for year-end cash flow, and TC rebounded rapidly, providing insufficient support for zinc prices. Macro front, bearish sentiment prevailed as the US dollar index remained strong, putting continuous pressure on base metals. Attention will be on the US CPI data tonight, and SHFE zinc is expected to fluctuate downward.

》Subscribe to View SMM Historical Spot Metal Prices