SHFE zinc continues to consolidate at highs; watch macro and inventory performance [SMM zinc futures review]

Published: Sep 11, 2026 17:39

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[SHFE zinc continues to consolidate at highs; watch macro and inventory performance] The most-traded SHFE zinc 2611 contract opened at 26,845 yuan/mt. After the open, bulls reduced positions, dragging SHFE zinc down to 26,635 yuan/mt. Subsequently, bears cut positions, driving prices to rebound. Near the end of the session, prices touched a high of 26,890 yuan/mt, and the contract finally closed up 40 yuan/mt, or 0.15%.....

SMM, September 11: The most-traded SHFE zinc 2611 contract opened at 26,845 yuan/mt. After the open, bulls cut positions, pushing SHFE zinc down to 26,635 yuan/mt. Subsequently, bears trimmed positions, driving prices to rebound. Near the end of the session, prices touched a high of 26,890 yuan/mt, ultimately closing up 40 yuan/mt, or 0.15%. Trading volume increased to 61,165 lots, while open interest fell by 2,536 lots to 124,000 lots. SHFE zinc formed a long lower-shadow doji, with the 5-day and 20-day moving averages above acting as resistance and the 40-day and 60-day moving averages below providing support. LME zinc's decline dragged SHFE zinc lower in tandem, but persistently low domestic zinc concentrate TCs still offered some support to prices. Attention may turn to tonight's CPI data and recent inventory changes outside China.

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