Easing Middle East Tensions Released Positive Sentiment, SHFE Zinc Opened Higher with a Gap Today [SMM Zinc Futures Brief]

Published: Apr 8, 2026 16:58

Save

[Easing Middle East Tensions Released Positive Sentiment, SHFE Zinc Opened Higher with a Gap Today] The most-traded SHFE zinc 2605 contract opened at 23,910 yuan/mt. After the opening, amid a tug-of-war between longs and shorts, SHFE zinc moved sideways near the daily average line, touching a high of 23,970 yuan/mt in the early session and a low of 23,815 yuan/mt near the close, ultimately settling down at 23,815 yuan/mt, falling 5 yuan/mt or 0.02%. The trading volume decreased to 50,226 lots, and open interest increased by 339 lots to 78,989 lots.....

SMM April 8: The most-traded SHFE zinc 2605 contract opened at 23,910 yuan/mt. After the opening, amid a tug-of-war between longs and shorts, SHFE zinc moved sideways near the daily average line, touching a high of 23,970 yuan/mt in early trading and a low of 23,815 yuan/mt near the close, ultimately settling down at 23,815 yuan/mt, falling 5 yuan/mt or 0.02%. Trading volume decreased to 50,226 lots, and open interest increased by 339 lots to 78,989 lots. SHFE zinc posted a bearish candlestick, with the upper Bollinger Bands rail exerting pressure from above and the 5/40-day moving averages providing support below. The easing of US-Iran tensions released positive sentiment, driving SHFE zinc to open higher with a gap, but market uncertainties persisted. Combined with ample zinc ingot supply in China and tightening ore supply, SHFE zinc is expected to hold up well in the short term amid mixed signals, with attention on subsequent marginal changes in macro conditions.

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.hoursAgo

Why Did Zinc Concentrate TCs Decline in April During the Regular Mine Production Resumption Season?

As of April 3, the average domestic zinc concentrate TC dropped to 1,350 yuan/mt in metal content, and the imported zinc concentrate TC fell to -$14.5/dmt, with the import market once again entering negative territory. After Chinese New Year, domestic mines gradually resumed production — so why did zinc concentrate TCs decline again in April?

Common.Time.hoursAgo

Korea Zinc to Invest $6.6B in U.S. Critical Minerals Project

South Korea’s Korea Zinc plans to invest $6.6 billion to develop a major critical minerals smelter and U.S. headquarters in Tennessee, marking the state’s largest-ever private investment. The project will span Clarksville and Gordonsville, including a new manufacturing facility and the reopening of a former mine. The integrated smelter will produce 13 nonferrous metals such as zinc, copper, and lead, supporting key industries including defense, aerospace, and automotive. The project is expected to create over 740 jobs and reduce U.S. reliance on China for critical minerals. Developed in partnership with the U.S. government, which may take a 40% stake, construction is scheduled to begin in 2027, with site preparation starting in 2026.

Common.Time.hoursAgo

Galvanizing Operating Rates Were Weaker YoY in Q1, Will Q2 See a Turnaround? [SMM Analysis]

Q1 coincided with the Chinese New Year holiday. Most enterprises gradually resumed work in March, with consumption performance being mediocre and galvanizing operations relatively weak. Can consumption improve in Q2?

Common.Time.hoursAgo