Stronger US Dollar Weighed on SHFE Zinc, Which Slipped in Daytime Trading [SMM Zinc Futures Brief Commentary]

Published: Mar 3, 2026 18:40

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[Stronger Dollar Weighs, SHFE Zinc Slips in Day Session]: The most-traded SHFE zinc 2604 contract opened at 24,555 yuan/mt. Early in the session, SHFE zinc touched a high of 24,720 yuan/mt, then fluctuated downward. Near the close, SHFE zinc dipped to 24,320 yuan/mt, and finally closed down at 24,370 yuan/mt, down 155 yuan/mt, a decline of 0.63%..

SMM News, March 3:

The most-traded SHFE zinc 2604 contract opened at 24,555 yuan/mt. Early in the session, SHFE zinc touched a high of 24,720 yuan/mt, then fluctuated downward. Near the close, SHFE zinc dipped to 24,320 yuan/mt, and finally closed down at 24,370 yuan/mt, down 155 yuan/mt, a decline of 0.63%. Trading volume fell to 92,115 lots, while open interest rose by 44 lots to 95,476 lots. SHFE zinc posted a bearish candlestick, with the lower Bollinger Band providing support. Recently, downstream enterprises have gradually resumed production and work, but domestic spot consumption remained weak, and zinc ingot inventory stayed elevated. Fundamentals provided insufficient support for zinc prices, and a stronger US dollar added pressure, sending SHFE zinc lower during the day.

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