Macro Sentiment Poor, Zinc Prices in the Doldrums [SMM Zinc Morning Comment]

Published: Jun 22, 2026 08:05

Save

[SMM Zinc Morning Comment] Last Friday, the China market was closed for the Dragon Boat Festival holiday. Today, focus on macro sentiment changes...

Last Friday, LME zinc opened at $3,627/mt. Early in the session, it briefly touched a high of $3,636/mt before its center shifted lower. During the European trading session, the center fluctuated around the daily average. Approaching the night session, LME zinc accelerated its decline, with its center shifting lower to around $3,560/mt for consolidation. It eventually closed down at $3,555/mt, down $74.5/mt, a decline of 2.05%. Trading volume decreased to 9,988 lots, while open interest increased by 7,801 lots to 258,000 lots. Last Friday, LME zinc recorded a large bearish candlestick, with the middle Bollinger Band providing support below and the upper Bollinger Band forming resistance above. The MACD bearish candlestick expanded. Expectations for US Fed interest rate hikes heated up last Friday, with the market pricing in a 25-basis-point hike in September, causing LME zinc's center to edge slightly lower.

Last Friday, SHFE zinc was closed for the Dragon Boat Festival holiday in China.

Data source disclaimer: All data other than publicly available information are processed by SMM based on public information, market communication, and SMM's internal database models, and are provided for reference only and do not constitute decision-making advice.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Common.Time.minsAgo

Falco’s Quebec Polymetallic Project Value Triples as Environmental Review Nears End

[SMM Flash] Falco Resources (TSXV: FPC) announced an updated feasibility study on Wednesday for its Horne 5 polymetallic project in western Quebec, more than tripling the project's value. Discounted at 5%, the update drives Horne 5’s post-tax net present value (NPV) up by 244% to C$3.35 billion ($2.37 billion), with the internal rate of return (IRR) rising to 28%, while initial capital costs increased 62% to C$1.75 billion. Boosted by the surging valuation and the province's announcement that its environmental review is nearing completion (expected by fall 2026), Falco's shares jumped 17% to C$0.59 on Thursday morning. Over a 15-year mine life, the project—boasting 80.9 million tonnes of proven and probable reserves—is projected to produce 3.3 million oz. of gold, 27.2 million oz. of silver, 1.1 billion lb. of zinc, and 247.3 million lb. of copper, with an offtake agreement already in place with Glencore for the copper and zinc concentrates.

Common.Time.minsAgo

Common.Time.hoursAgo

Expectations for US Fed interest rate hikes heated up, LME zinc center slightly sank [SMM Morning Meeting Summary]

[SMM Morning Meeting Summary: Expectations for US Fed Interest Rate Hikes Heat Up, LME Zinc Center Slightly Declines] Last Friday, LME zinc recorded a large bearish candlestick, with support from the middle Bollinger Band below and resistance from the upper Bollinger Band above, while the MACD bearish candlestick expanded. Last Friday, expectations for US Fed interest rate hikes heated up......

Common.Time.hoursAgo

Jun 18, 2026 19:05

East China Zinc Market Sees Surplus, Low Premiums Amid Weak Off-Season Demand

[East China Refined Zinc Market] The east China market saw an overall surplus of zinc ingots this week. Traders adopted a passive selling approach, with spot premiums hovering at lows. Meanwhile, downstream consumption of zinc in east China showed weak performance during the off-season, leading to poor spot transactions throughout the week.

Jun 18, 2026 19:05