SHFE zinc continues to decline, expected to remain weak in the short term [SMM zinc futures review]

Published: Oct 15, 2026 17:51 (GMT+8)

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[SHFE Zinc Extends Decline, Expected to Stay Weak in the Short Term] The most-traded SHFE zinc 2612 contract opened at 25,550 yuan/mt. After the open, SHFE zinc consolidated at lows, hitting an intraday high of 25,570 yuan/mt and dipping to a low of 25,415 yuan/mt near the close, before settling down at 25,425 yuan/mt, down 155 yuan/mt, or 0.61%. Trading volume increased to 58,400 lots, and open interest rose by 1,556 lots to 102,000 lots.

SMM, October 15:

The most-traded SHFE zinc 2612 contract opened at 25,550 yuan/mt. After the open, SHFE zinc consolidated at lows, touching a session high of 25,570 yuan/mt and dipping to a low of 25,415 yuan/mt near the close, ultimately settling down at 25,425 yuan/mt, down 155 yuan/mt, or 0.61%. Trading volume increased to 58,400 lots, and open interest rose by 1,556 lots to 102,000 lots. SHFE zinc posted a bearish candlestick, with support from the lower Bollinger Band. LME zinc inventory continued to build, and macro pressure weighed on base metals, sending SHFE zinc lower intraday. On the fundamentals side, end-user orders in China underperformed in peak season, with overall consumption showing mediocre performance. Short-term weakness is expected to persist.

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