SMM News on June 30:
The most-traded SHFE zinc 2508 contract opened at 22,455 yuan/mt. After opening, SHFE zinc fluctuated around the daily average line. Near the midday session, SHFE zinc slipped slightly to a low of 22,370 yuan/mt. Then, it rose throughout the midday session, reaching a high of 22,530 yuan/mt before resuming a fluctuating trend. It finally closed up at 22,495 yuan/mt, up 35 yuan/mt or 0.16%. Trading volume increased to 96,686 lots, while open interest decreased by 3,397 lots to 140,000 lots. SHFE zinc recorded a bullish candlestick, with the 5-day moving average providing support below. On Monday, SMM zinc ingot inventory rose again to 80,600 mt, but the increase was limited. Additionally, the positive macro sentiment persisted, and SHFE zinc maintained a strong upward trend during the day.
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