Near-Term Squeeze Sentiment in LME Zinc Intensifies, SHFE Zinc Follows Higher【SMM Zinc Futures Review】

Published: Aug 21, 2026 18:10

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【Near-Term Squeeze Sentiment in LME Zinc Intensifies, SHFE Zinc Follows Higher】The SHFE zinc 2610 contract opened at 25,590 yuan/mt during the daytime session and immediately touched a low of 25,580 yuan/mt. It then moved higher amid fluctuations and reached an intraday high of 25,805 yuan/mt before closing higher at 25,710 yuan/mt, up 0.47%......

SMM, August 21:

The SHFE zinc 2610 contract opened at 25,590 yuan/mt during the daytime session. After touching an intraday low of 25,580 yuan/mt shortly after the open, the contract moved higher amid fluctuations and reached a high of 25,805 yuan/mt. It eventually closed higher at 25,710 yuan/mt, up 120 yuan/mt, or 0.47%. Trading volume decreased to 79,735 lots, while open interest increased by 368 lots to 139,000 lots. The contract recorded a bullish candlestick for the session. LME zinc inventories remained at low levels, while the LME 0-3 backwardation widened, intensifying near-term squeeze sentiment. Meanwhile, increased long positions pushed LME zinc higher, with SHFE zinc following the overseas market upward.

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