SHFE Zinc Remained in the Doldrums; Watch Subsequent Consumption Performance [SMM Zinc Futures Brief Commentary]

Published: Mar 4, 2026 15:42

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[SHFE Zinc Remained in the Doldrums; Watch Subsequent Consumption Performance]: The most-traded SHFE zinc 2604 contract opened at 24,490 yuan/mt. After the open, SHFE zinc consolidated around the daily average line. During the session, SHFE zinc touched a high of 24,625 yuan/mt, and near the close, it dipped to 24,440 yuan/mt, finally closing up at 24,480 yuan/mt, up 20 yuan/mt..

SMM News on March 4:

The most-traded SHFE zinc 2604 contract opened at 24,490 yuan/mt. After the open, SHFE zinc consolidated around the daily average line. During the session, SHFE zinc touched a high of 24,625 yuan/mt, and near the close it dipped to 24,440 yuan/mt. It finally closed up at 24,480 yuan/mt, up 20 yuan/mt, or 0.08%. Trading volume fell to 78,902 lots, while open interest decreased by 2,788 lots to 87,434 lots. SHFE zinc posted a bearish candlestick, with the lower Bollinger Band providing support. Ongoing disruptions from the Middle East situation and a high US dollar index weighed on nonferrous prices. SHFE zinc was in the doldrums during the day, and it is expected to maintain a fluctuating trend in the short term.

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