Weakening US Dollar and Supply Disruptions Drove Notable Intraday Rally in SHFE Zinc [SMM Zinc Futures Brief]

Published: May 6, 2026 18:07

Save

[Weakening US Dollar and Supply Disruptions Drive Notable Intraday Gains in SHFE Zinc]: The most-traded SHFE zinc 2606 contract opened at 23,850 yuan/mt, dipped to a low of 23,815 yuan/mt in early trading, then fluctuated upward throughout the session, touching a high of 24,285 yuan/mt near the close, and ultimately settled up at 24,250 yuan/mt, gaining 605 yuan/mt, or 2.56%.

SMM, May 6:

The most-traded SHFE zinc 2606 contract opened at 23,850 yuan/mt. In early trading, SHFE zinc dipped to a low of 23,815 yuan/mt before fluctuating upward throughout the session, touching a high of 24,285 yuan/mt near the close, and ultimately settled up at 24,250 yuan/mt, gaining 605 yuan/mt or 2.56%. Trading volume rose to 90,432 lots, while open interest decreased by 2,342 lots to 93,402 lots. SHFE zinc posted a large bullish candlestick, breaking through multiple daily average lines. The resumption of US-Iran negotiations boosted macro sentiment, weakening the US dollar index accordingly. Combined with renewed supply disruptions outside China, SHFE zinc rose notably during the session and is expected to hover at highs in the short term.

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 to learn 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

Boliden Reports Q1 2026 Zinc Concentrate Production Down 3% QoQ, Impacted by Earthquake and Heavy Rainfall

[Zinc Concentrate Production Information] On April 28, Boliden released its Q1 2026 report. Data showed that its zinc concentrates production in the quarter was 89,200 mt, down 3% QoQ. By mine, Tara mine's Q1 zinc concentrates production was 17,400 mt, up 14% QoQ; Garpenberg's Q1 zinc concentrates production was 19,300 mt, down 26% QoQ, mainly due to an earthquake deep in the mine on March 14 that severely affected the Lappberget ore body; The Boliden Area's Q1 zinc concentrates production was 8,800 mt, up 4% QoQ; Zinkgruvan's Q1 zinc concentrates production was 17,500 mt, up 23% QoQ; Somincor's Q1 zinc concentrates production was 25,900 mt, down 5% QoQ, mainly due to the negative impact of heavy rainfall, with milling volume lower than the previous quarter.

Common.Time.minsAgo

Zinc Prices Rebounded from Lows in April — What's the Outlook for May?

As of April 30, the most-traded SHFE zinc contract closed at 23,645 yuan/mt, up 165 yuan/mt for the month, a gain of 0.7%. Zinc prices rebounded from lows in April, touching a low of 23,430 yuan/mt at the beginning of the month and a high of 24,515 yuan/mt at month-end, though the overall price center pulled back. Heading into May, with the tight domestic ore supply situation persisting, how will zinc prices perform?

Common.Time.minsAgo

1 hour ago

Zinc Concentrate TCs Continue to Decline, SHFE Zinc Fluctuates at Highs [SMM Zinc Futures Brief]

[TCs Continued to Decline, SHFE Zinc Fluctuated at Highs]: The most-traded SHFE zinc 2606 contract opened at 24,200 yuan/mt. After the opening, SHFE zinc fluctuated around the daily average line, touching a low of 24,105 yuan/mt during the session and reaching a high of 24,305 yuan/mt near the close, ultimately closing higher at 24,285 yuan/mt.

1 hour ago