Pre-holiday stockpiling consumption was moderate; SHFE zinc consolidated on a subdued note [SMM zinc futures review]

Published: Sep 23, 2026 16:13 (GMT+8)

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[Pre-holiday stockpiling consumption average, SHFE zinc consolidates on a subdued note] The most-traded SHFE zinc 2611 contract opened at 26,750 yuan/mt, then declined all the way after the open, hitting a high of 26,760 yuan/mt in early trading and a low of 26,510 yuan/mt near the close, before ending down at 26,515 yuan/mt, down 195 yuan/mt or 0.73%, with trading volume up 11,160 lots to 60,363 lots.....

SMM, September 23:

The most-traded SHFE zinc 2611 contract opened at 26,750 yuan/mt. After the open, SHFE zinc trended lower throughout the session, hitting an intraday high of 26,760 yuan/mt in early trading and a low of 26,510 yuan/mt near the close, ultimately settling down at 26,515 yuan/mt, a decline of 195 yuan/mt or 0.73%. Trading volume increased by 11,160 lots to 60,363 lots, and open interest rose by 1,095 lots to 145,000 lots. SHFE zinc formed a bearish candlestick, with the upper Bollinger Band acting as resistance. The LME zinc cash-to-three-month backwardation pulled back to $52.8/mt, and weakness in LME zinc weighed on SHFE zinc. Additionally, with the upcoming dual holidays, pre-holiday stockpiling demand has been lackluster, keeping SHFE zinc consolidating on a subdued note during the day.

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