SMM News on May 30: The most-traded SHFE zinc 2507 contract opened at 22,320 yuan/mt. At the beginning of the session, bulls reduced their positions, causing SHFE zinc to decline rapidly and oscillate below the daily average line. During this period, it dipped to a low of 21,500 yuan/mt, eventually closing down at 22,225 yuan/mt, a drop of 270 yuan/mt or 1.02%. Trading volume decreased to 182,000 lots, while open interest fell by 2,766 lots to 117,000 lots. SHFE zinc recorded a large bullish candlestick. TCs continued to rebound, while consumption generally weakened, leading to a decline in SHFE zinc. Trading was suspended in the evening due to the Dragon Boat Festival.
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