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

Published: Mar 3, 2026 18:40

Save

[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.

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

Mar 27, 2026 15:59

Bullish and Bearish Factors Intertwined as SHFE and LME Zinc Prices Rose [SMM Market Review - Weekly Price Review]

[Mixed Bullish and Bearish Factors in the Market, SHFE and LME Zinc Prices Rose] At the beginning of the week, LME zinc continued last week's downward fluctuation trend; subsequently, the US dollar index dropped back slightly from its highs, and LME zinc rose; however, the ongoing escalation of the Middle East conflict, coupled with the renewed strength of the US dollar index, constrained the upside room for zinc prices, and the center of LME zinc gradually pulled back......

Mar 27, 2026 15:59

Mar 27, 2026 15:56

Zinc Oxide Operating Rates Remained Stable, While End-Use Demand Showed Divergence [SMM Zinc Oxide Weekly Review]

[Zinc Oxide Operating Rates Remain Stable, End-Use Demand Shows Divergence] In terms of orders, overall demand for rubber-grade zinc oxide remained stable, but some enterprises were relatively cautious about expectations for subsequent demand from tyre factories; orders for major ceramic-grade zinc oxide producers were relatively stable, but affected by the overall weakness in the real estate market, overall demand in the sector was average......

Mar 27, 2026 15:56

Mar 27, 2026 15:55

Data: SHFE, DCE market movement (Mar 27)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 27 Mar , 2026

Mar 27, 2026 15:55