The market's short sentiment is strong in zinc market

The most-traded SHFE 2404 zinc contract opened lower at 20620 yuan/mt before closing at 20540 yuan/mt, down 85 yuan/mt or 0.41%, with the low-end of 20525 yuan/mt. Trading volume was down to 97055 lots, and open interest fell 1321 to 111,000 lots. From a fundamental point of view, the supply side is still bullish. However, zinc prices fell back during the day, but still did not meet the expected value of downstream procurement, and spot transactions were weak. Some funds are temporarily withdrawn during the day. It is expected that SHFE zinc may continue its weak trend and adjust downward in the evening.