Rising Fed Rate Hike Expectations and Zinc Inventory Buildup Weigh on SHFE Zinc【SMM Zinc Futures Review】

Published: Sep 14, 2026 18:36

Save

【Rising Fed Rate Hike Expectations and Renewed Zinc Inventory Buildup Weigh on SHFE Zinc】SHFE zinc 2611 contract opened at 26,555 yuan/mt, briefly edged up to 26,595 yuan/mt, then fluctuated lower to touch 26,280 yuan/mt. It closed at 26,335 yuan/mt, down 265 yuan/mt, or 1.00%, from the night-session close......

SMM, September 14:

SHFE zinc 2611 contract opened at 26,555 yuan/mt, briefly edged up to 26,595 yuan/mt, then fluctuated lower to touch 26,280 yuan/mt. It 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 approximately 128,000 lots, forming a bearish candlestick. Rising expectations of a Fed rate hike, coupled with geopolitical tensions in the Middle East, weighed on nonferrous metals. Meanwhile, zinc ingot social inventories shifted from declines to increases, weakening price support. SHFE zinc is expected to fluctuate with a downward bias in the near term.

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 for 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

32 mins ago

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]

[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......

32 mins ago

1 hour ago

New Century H1 2026 Zinc Production Down 13% Due to Weather, Maintenance

[New Century Reports H1 2026 Production]New Century released its H1 2026 results, reporting zinc concentrate production of 54,000 tonnes, down 13% YoY. Saleable zinc production stood at 45,000 tonnes, also down 13% YoY. The decline was attributed to lower head grades, weather-related disruptions caused by above-average wet-season rainfall, and scheduled annual maintenance shutdowns during the first half of the year.

1 hour ago

2 hours ago

[SMM Analysis] Sulfuric Acid & Zinc TCs Fall: Why Are Chinese Smelter Margins Squeezed?

According to SMM data, sulfuric acid prices for smelters have shifted from high levels into a downward trend since the third quarter, with prices in major domestic regions currently falling to RMB 1,100–1,800/mt. At the same time, zinc concentrate treatment charges (TCs) continued to decline rapidly in Q3. As of September 11, the average domestic zinc concentrate TC had fallen to -RMB 2,100/metal mt, while the import zinc concentrate index had declined to -$112.91/dmt.

2 hours ago