Weak Macro Sentiment, SHFE Zinc Center Shifted Lower [SMM Zinc Futures Brief Commentary]

Published: Mar 10, 2026 16:31

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[Weaker Macro Sentiment, SHFE Zinc Center Shifted Lower]: The most-traded SHFE zinc 2604 contract opened at 24,460 yuan/mt. Early in the session, bulls reduced open interest, and SHFE zinc fluctuated downward to a low below 24,300 yuan/mt. As downward momentum proved insufficient, the SHFE zinc center moved higher. It closed down at 24,415 yuan/mt, down 5 yuan/mt, a decline of 0.02%. Trading volume fell to 105,000 lots, while open interest decreased by 5,934 lots to 74,747 lots.

SMM News on March 10:

The most-traded SHFE zinc 2604 contract opened at 24,460 yuan/mt. Early in the session, bulls reduced open interest, and SHFE zinc fluctuated downward, dipping below 24,300 yuan/mt. As downside momentum proved insufficient, the center of SHFE zinc moved higher, and it finally closed lower at 24,415 yuan/mt, down 5 yuan/mt, a decline of 0.02%. Trading volume fell to 105,000 lots, while open interest decreased by 5,934 lots to 74,747 lots. SHFE zinc posted a small bearish candlestick. With weak macro sentiment, bulls exited the market, and the center of SHFE zinc edged down slightly. SHFE zinc was expected to be mainly rangebound in night trading.

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