China's Consumption Mediocre Performance, SHFE Zinc Maintain Fluctuating Trend [SMM Zinc Futures Brief Review]

Published: Apr 15, 2026 15:31

Save

[China's Mediocre Performance in Consumption, SHFE Zinc Maintained Fluctuating Trend]: The most-traded SHFE zinc 2605 contract opened at 23,670 yuan/mt. SHFE zinc edged up at the beginning of the session, touching a high of 23,810 yuan/mt before pulling back to near the daily average line. During the session, SHFE zinc dipped to a low of 23,665 yuan/mt, then moved sideways around the daily average line, ultimately closing higher at 23,715 yuan/mt, up 55 yuan/mt.

SMM, April 15:

The most-traded SHFE zinc 2605 contract opened at 23,670 yuan/mt. SHFE zinc edged up at the beginning of the session, touching a high of 23,810 yuan/mt before pulling back to near the daily average line. During the session, SHFE zinc dipped to a low of 23,665 yuan/mt, then moved sideways around the daily average line. It eventually closed higher at 23,715 yuan/mt, up 55 yuan/mt or 0.23%. Trading volume increased by 2,127 lots to 37,959 lots, and open interest decreased by 2,165 lots to 72,056 lots. SHFE zinc posted a bullish candlestick, with the Bollinger Bands mid-track providing support. The potential resumption of US-Iran negotiations eased macro sentiment in the market, and SHFE zinc edged higher intraday. However, mediocre performance of downstream zinc consumption in China limited the upside room for SHFE zinc, and zinc prices are expected to maintain a fluctuating trend in the short term.

The SHFE zinc 2604 contract opened at 23,620 yuan/mt during the session. SHFE zinc maintained a fluctuating trend after the opening and eventually closed higher at 23,605 yuan/mt, up 5 yuan/mt or 0.02%. Trading volume increased to 385 lots, open interest increased by 95 lots to 4,605 lots, delivery volume was 23,025 mt, and the settlement price was 23,658 yuan/mt.

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 to learn 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

30 mins ago

Improved Macro Sentiment Drove LME Zinc Higher [SMM Morning Meeting Minutes]

[SMM Morning Meeting Minutes: Macro Sentiment Improved, LME Zinc Rose] Overnight, LME zinc opened at $3,340.5/mt. At the beginning of the session, LME zinc briefly dipped to a low of $3,336.5/mt. Subsequently, bulls increased their open interest, and LME zinc fluctuated upward throughout the session, reaching a high of $3,414/mt during the night session, ultimately closing up at $3,400/mt, up $60/mt, a gain of 1.8%. Trading volume increased to 12,425 lots, and open interest rose by 1,955 lots to 217,000 lots.

30 mins ago

31 mins ago

LME Drove SHFE Higher, SHFE Zinc Center Shifted Upward [SMM Zinc Morning Comment]

[SMM Zinc Morning Comment] Overnight, the most-traded SHFE zinc 2605 contract opened at 23,850 yuan/mt, briefly dipping to a low of 23,840 yuan/mt at the start of the session. Bears then reduced their open interest, and the SHFE zinc center shifted upward to a high of 23,970 yuan/mt, ultimately closing higher at 23,900 yuan/mt, up 185 yuan/mt or 0.78%. Trading volume fell to 47,019 lots, and open interest decreased by 1,040 lots to 71,016 lots.

31 mins ago

11 hours ago

Bolivia Cancels $350M Chinese Zinc Project in Oruno

Bolivia’s government recently terminated a $350 million Chinese-backed zinc refinery project in Oruro in January 2026. The decision reflects a wider effort to address problematics in the projects, including requiring improvements at the $546 million Mutún steel plant and responding to operational issues at the Huanuni tin facility, which is operating at only 13% capacity.

11 hours ago