Geopolitical Easing Drives Zinc Prices to Rebound [SMM Zinc Brief Review]

Published: Apr 1, 2026 17:15

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[Geopolitical Tensions Eased, Zinc Prices Rebounded] The most-traded SHFE zinc 2605 contract opened at 23,700 yuan/mt. In early trading, bears reduced open interest, and SHFE zinc rose rapidly to a high of 23,735 yuan/mt. It then saw its center drop back slightly and hovered around 23,600 yuan/mt before closing up at 23,550 yuan/mt, up 70 yuan/mt, or 0.3%. Trading volume fell to 87,777 lots, and open interest decreased by 2,612 lots to 88,931 lots.

SMM News on April 1:

The most-traded SHFE zinc 2605 contract opened at 23,700 yuan/mt. In early trading, bears reduced open interest, and SHFE zinc rose rapidly to a high of 23,735 yuan/mt. հետո, its center dropped back slightly and it fluctuated in consolidation around 23,600 yuan/mt, before finally closing up at 23,550 yuan/mt, up 70 yuan/mt, or 0.3%. Trading volume fell to 87,777 lots, and open interest decreased by 2,612 lots to 88,931 lots. SHFE zinc posted a small bullish candlestick. Ore supply outside China remained tight, while zinc concentrate TCs in China struggled to rebound, providing support to zinc prices from the supply side. In addition, easing geopolitical conflicts outside China helped zinc prices rebound. SHFE zinc is expected to hold up well in night trading.

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