US-Iran peace agreement boosts market sentiment, SHFE zinc hovers at highs [SMM Zinc Brief]

Published: Jun 15, 2026 15:06

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[US-Iran Peace Agreement Boosts Market Sentiment, SHFE Zinc Hovers at Highs] The most-traded SHFE zinc 2608 contract opened at 24,715 yuan/mt. After the opening, SHFE zinc fluctuated higher, dipping to 24,715 yuan/mt at the start and reaching a high of 24,930 yuan/mt near the close. It finally closed up at 24,875 yuan/mt, gaining 205 yuan/mt or 0.83%. Trading volume increased by 7,651 lots to 43,398 lots, and open interest rose by 1,372 lots to 79,180 lots.....

SMM June 15:

The most-traded SHFE zinc 2608 contract opened at 24,715 yuan/mt, then fluctuated upward. It touched a low of 24,715 yuan/mt early in the session, and near the end, it hit a high of 24,930 yuan/mt, finally closing up at 24,875 yuan/mt, up 205 yuan/mt, or 0.83%. Trading volume increased by 7,651 lots to 43,398 lots, and open interest increased by 1,372 lots to 79,180 lots. SHFE zinc formed a bullish candlestick, with the 20-day and 40-day moving averages providing support below. The US-Iran peace agreement boosted market sentiment, but on the fundamentals side, consumption is in the off-season, and China’s zinc ingot inventory remains high, continuing to weigh on zinc prices. Intraday SHFE zinc gains were limited, and it is expected to hover at highs in the short term.

The SHFE zinc 2606 contract opened at 24,660 yuan/mt, then fluctuated higher, eventually closing up at 24,815 yuan/mt, up 540 yuan/mt, or 2.22%. Trading volume decreased to 110 lots, open interest remained flat at 6,000 lots, delivery volume was 30,000 mt, and the settlement price was 24,760 yuan/mt.

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.

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