SMM

Overnight, the LME market was closed for Christmas Day holiday.
The most-traded SHFE 2402 zinc contract opened at 21440 yuan/mt in overnight trading, and fluctuated downward. The contract closed at 21275 yuan/mt, down 125 yuan/mt or 0.58%. Trading volume stood at 35,000 lots, and open interest decreased by 1286 lots to 87,000 lots. From the spot point of view, the long-term orders in 2023 have ended, and the market trading among traders was light; the absolute price of zinc is relatively high, which inhibits the enthusiasm of downstream replenishment, and the consumption of downstream is also weak. Affected by the fundamentals, the prices fell back.