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  SMM Zinc Data on April 22

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• LME Metal Inventory and Cancelled Warrants Data on April 22

• SHFE zinc recorded a bearish candlestick with no upper shadow, and it is expected to maintain a fluctuating trend in the short term. [SMM Zinc Futures Brief]

  The most-traded SHFE zinc 2506 contract opened at 22,295 yuan/mt. At the beginning of the session, shorts increased their positions, causing the contract to fluctuate downward and hit a low of 22,075 yuan/mt. Subsequently, shorts reduced their positions, leading to a partial recovery of the losses. The contract finally closed at 22,285 yuan/mt, down 110 yuan/mt, or 0.49%. The trading volume decreased to 162,000 lots, while the open interest increased by 4,615 lots to 130,000 lots. The SHFE zinc recorded a bearish candlestick with no upper shadow, with the 20/60 daily averages forming resistance above and the lower Bollinger Band providing support below. It is expected to maintain a fluctuating trend in the short term.

• The transaction center of the high-grade NPI market shifted downward, and the price of high-grade NPI may remain in the doldrums in the short term. [NPI Daily Review]

  [SMM Daily Review: High-Grade NPI Market Transaction Center Shifts Downward, Short-Term High-Grade NPI Prices May Remain in the Doldrums] April 22, SMM 8-12% high-grade NPI average price was 976 yuan/mtu (ex-factory, tax included), down 7.5 yuan/mtu compared to the previous working day...