SMM Jan. 6:
The most-traded SHFE zinc 2602 contract opened at 24,060 yuan/mt. After opening, bulls increased their positions, and SHFE zinc fluctuated upward above the daily average line, hitting a high of 24,415 yuan/mt. Toward the end of the session, bulls reduced their positions, and the upward momentum of zinc slowed temporarily, with the price center fluctuating rangebound around 24,330 yuan/mt. It finally closed up at 24,295 yuan/mt, an increase of 475 yuan/mt or 1.99%. Trading volume increased to 177,000 lots, and open interest rose by 6,517 lots to 96,459 lots. SHFE zinc recorded a bullish candlestick, supported by various moving averages below. Currently, bulls dominate the futures market, while base metals such as copper and aluminum show strong performance, driving zinc to continue rising.
