SMM August 22: The most-traded SHFE zinc 2510 contract opened at 22,260 yuan/mt. At the beginning of the session, SHFE zinc fluctuated considerably around the daily average with bears reducing positions. By the end of the session, the price center moved up and finally closed at 22,275 yuan/mt, up 35 yuan/mt or 0.16%. Trading volume increased to 88,665 lots, while open interest decreased by 2,634 lots to 108,000 lots. SHFE zinc recorded a small bullish candlestick. Currently, the domestic supply-demand imbalance remains unchanged, but LME inventory continues destocking. Capital remains cautious, and the price center of SHFE zinc has shifted upward, awaiting more macro guidance.
