US Fed rate hike expectations heat up, combined with zinc ingot social inventory shifting from decline to increase, SHFE zinc falls under pressure [SMM zinc futures review]

Published: Sep 14, 2026 18:31

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[Expectations for US Fed interest rate hikes intensify, combined with zinc ingot social inventory shifting from decline to increase, SHFE zinc falls under pressure] The daytime session of SHFE zinc 2611 contract opened at 26,555 yuan/mt, briefly rose to 26,595 yuan/mt in early trading, then drifted lower to a low of 26,280 yuan/mt, and finally closed at 26,335 yuan/mt, down 265 yuan/mt from the night session close, a decline of 1.00%. Trading volume increased to 58,201 lots, while open interest decreased by 108 lots to 128,000 lots......

SMM, September 14:

The SHFE zinc 2611 contract opened at 26,555 yuan/mt in the daytime session, edged up to 26,595 yuan/mt in early trading, then drifted lower to a low of 26,280 yuan/mt, and closed at 26,335 yuan/mt, down 265 yuan/mt, or 1.00%, from the night session close. Trading volume increased to 58,201 lots, while open interest fell by 108 lots to 128,000 lots, forming a bearish candlestick. Rising expectations for US Fed interest rate hikes, coupled with geopolitical tensions in the Middle East, put nonferrous metals under pressure. Zinc ingot inventory shifted from decline to increase, weakening support, and SHFE zinc is expected to consolidate on a subdued note in the short term.

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