SHFE zinc recorded a bullish candlestick, and is expected to hover at highs [SMM Zinc Brief Review]

Published: Jun 12, 2026 18:15

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[SHFE Zinc Records a Bullish Candlestick, Expected to Hover at Highs] The most-traded SHFE zinc 2607 contract opened at 24,190 yuan/mt. After the opening, SHFE zinc fluctuated above the daily average line, reaching a high of 24,445 yuan/mt during this period. Subsequently, bulls reduced their positions, and SHFE zinc edged down to test a low of 24,070 yuan/mt. Near the close, SHFE zinc edged up to recoup some losses, finally closing up at 24,360 yuan/mt, up 195 yuan/mt, a gain of 0.81%. Trading volume fell to 122,000 lots, and open interest declined by 4,821 lots to 75,934 lots.....

SMM June 12: The most-traded SHFE zinc 2607 contract opened at 24,190 yuan/mt. After opening, SHFE zinc fluctuated above the daily average line, hitting a high of 24,445 yuan/mt. Subsequently, bulls cut positions, causing SHFE zinc to edge down to a low of 24,070 yuan/mt. Toward the end of the session, SHFE zinc edged up to recoup some losses, closing up at 24,360 yuan/mt, up 195 yuan/mt or 0.81%. Trading volume fell to 122,000 lots, and open interest decreased by 4,821 lots to 75,934 lots. SHFE zinc printed a bullish candlestick, with the 5- and 40-day moving averages above exerting downward pressure. Currently, China's end-use demand is weakening and domestic inventory remains high, but low TCs at the mining end are providing support for prices. Keep an eye on macro developments outside China. SHFE zinc is expected to hover at highs.

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