Market Tug-of-War Between Longs and Shorts: SHFE Zinc Posts a Bearish Candlestick [SMM Zinc Futures Brief]

Published: Jun 11, 2026 16:12

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[Market Tug-of-War between Longs and Shorts, SHFE Zinc Records a Bearish Candlestick] The most-traded SHFE zinc 2607 contract opened at 24,480 yuan/mt. After opening, SHFE zinc quickly touched a high of 24,580 yuan/mt. Subsequently, bulls reduced positions, and SHFE zinc kept falling. Near the end of trading, SHFE zinc dipped to a low of 24,110 yuan/mt, finally closed down at 24,165 yuan/mt, down 455 yuan/mt, or a decline of 1.85%. Trading volume increased to 172,000 lots, and open interest decreased by 5,846 lots to 80,755 lots.....

SMM June 11: The most-traded SHFE zinc 2607 contract opened at 24,480 yuan/mt. After opening, SHFE zinc quickly rose to a high of 24,580 yuan/mt, then bulls reduced positions, dragging SHFE zinc lower. Near the end of the session, SHFE zinc dipped to a low of 24,110 yuan/mt, finally closing down at 24,165 yuan/mt, a drop of 455 yuan/mt, or 1.85%. Trading volume increased to 172,000 lots, while open interest decreased by 5,846 lots to 80,755 lots. SHFE zinc posted a bearish candlestick, with the 5/20-day moving averages above capping it. Affected by macro factors and LME trends, SHFE zinc kept declining, but with China's ore TCs hovering at lows, SHFE zinc still had some support below. Market news is mixed between bullish and bearish factors; pay attention to subsequent macro developments.

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