SMM September 5 news:
The most-traded SHFE zinc 2510 contract opened at 22,075 yuan/mt. In early trading, it dipped to 22,065 yuan/mt, then fluctuated upward continuously before pulling back slightly after hitting a high of 22,220 yuan/mt in late trading. It finally closed at 22,155 yuan/mt, up 85 yuan/mt or 0.39%. Trading volume increased to 65,211 lots, while open interest fell by 6,151 lots to 111,000 lots. SHFE zinc formed a bullish candlestick, with the 20-day moving average acting as resistance. Recently, environmental protection-driven production restrictions in northern China have been lifted successively, and downstream consumption has shown some recovery. However, overall orders have not improved significantly. SHFE zinc continued fluctuating during the day, and subsequent consumption performance requires close monitoring.
