China’s zinc inventory edged down, SHFE zinc recorded a small bearish candlestick [SMM Zinc Morning Comment]

[SMM Zinc Morning Comment] Overnight, the most-traded SHFE zinc 2609 contract opened at 24,890 yuan/mt. Early in the session, SHFE zinc shot up to a high of 24,935 yuan/mt, then as bears added positions, the price pulled back and dipped to a low of 24,790 yuan/mt. Subsequently, bulls added positions and prices recovered somewhat, consolidating and rebounding to around the daily average line. It finally closed down at 24,865 yuan/mt, down 20 yuan/mt, or 0.08%. Trading volume decreased to 37,107 lots, and open interest increased by 1,847 lots to 113,000 lots.

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