[Inventory Performance "Splits" in and outside China, SHFE Zinc Maintains Fluctuating Trend] The most-traded SHFE zinc 2605 contract opened at 23,720 yuan/mt. After the opening, bulls reduced open interest and SHFE zinc dipped to a low of 23,665 yuan/mt. Subsequently, bulls increased open interest and the SHFE zinc center rose to hover near the daily average line in a fluctuating pattern, touching a high of 23,835 yuan/mt during the session. Toward the end of the session, bulls reduced open interest and SHFE zinc fell back below the daily average line, ultimately closing up 25 yuan/mt, a gain of 0.11%. Trading volume increased to 36,226 lots, and open interest decreased by 215 lots to 77,368 lots.

[Geopolitical Tensions Eased, Zinc Prices Rebounded] The most-traded SHFE zinc 2605 contract opened at 23,700 yuan/mt. In early trading, bears reduced open interest, and SHFE zinc rose rapidly to a high of 23,735 yuan/mt. It then saw its center drop back slightly and hovered around 23,600 yuan/mt before closing up at 23,550 yuan/mt, up 70 yuan/mt, or 0.3%. Trading volume fell to 87,777 lots, and open interest decreased by 2,612 lots to 88,931 lots.

[Zinc Price Center Rose, Focus on Subsequent Macro Changes] The most-traded SHFE zinc 2605 contract opened at 22,875 yuan/mt. After the opening, bulls added to open interest and pushed SHFE zinc up to 23,110 yuan/mt. During the session, bulls reduced open interest and SHFE zinc fell to a low of 22,840 yuan/mt. Near the close, bulls exerted strength again, driving prices to rebound slightly. It finally closed up at 22,935 yuan/mt, up 75 yuan/mt, or 0.33%. Trading volume decreased to 66,161 lots, and open interest increased by 664 lots to 106,000 lots.....

[Heavy Inventory Pressure Continues to Cap Zinc Prices on the Upside] The most-traded SHFE zinc 2605 contract opened at 23,915 yuan/mt. In early trading, as bears reduced positions, SHFE zinc gradually rose to above the daily average line and touched a high of 24,055 yuan/mt. Later, as bears added positions, SHFE zinc gradually fell below the daily average line and hit a low of 23,720 yuan/mt, finally closing down at 23,730 yuan/mt.....

[US Fed Issues "Declaration," Zinc Prices Expected to Maintain Fluctuating Trend]: The most-traded SHFE zinc 2503 contract opened at 23,970 yuan/mt. At the beginning of the session, bulls reduced positions, causing SHFE zinc to fluctuate downward below the daily moving average, hitting a low of 23,800 yuan/mt. Subsequently, bears reduced positions, allowing SHFE zinc to recover part of the losses. Overall, the center fluctuated around the daily moving average. The contract ultimately closed higher at 23,880 yuan/mt, up 30 yuan/mt or 0.13%. Trading volume decreased to 94,660 lots, and open interest fell by 3,060 lots to 71,868 lots...

[Macro and Fundamentals Jointly Weigh Down Zinc Prices, Leading to a Significant Pullback]: The most-traded SHFE zinc 2503 contract opened at 23,570 yuan/mt. In early trading, SHFE zinc fluctuated, reaching a high of 23,710 yuan/mt, then began to decline steadily, hitting a low of 23,180 yuan/mt during the midday session. It eventually closed lower at 23,260 yuan/mt, down by 395 yuan/mt, a decrease of 1.67%...