LME Drives SHFE Zinc Higher, But Upside Pressure Remains [SMM Zinc Futures Brief Comment]

Published: Jun 9, 2026 16:06

Save

[LME drives SHFE zinc higher but resistance still caps upside] The most-traded SHFE zinc 2607 contract opened at 24,700 yuan/mt. After opening, SHFE zinc quickly hit a high of 24,795 yuan/mt. Subsequently, bulls reduced positions, and SHFE zinc quickly fell to 24,585 yuan/mt. Then, bears reduced positions, and SHFE zinc pared back and recovered some of its losses. It ended up at 24,760 yuan/mt, up 130 yuan/mt, or 0.53%. Trading volume fell to 98,537 lots, and open interest decreased by 2,008 lots to 89,897 lots.....

SMM, June 9 – The most-traded SHFE zinc 2607 contract opened at 24,700 yuan/mt. After opening, SHFE zinc quickly rallied to a high of 24,795 yuan/mt, before bulls reduced positions, causing SHFE zinc to plummet to 24,585 yuan/mt. Subsequently, bears covered positions, prompting SHFE zinc to rebound and recoup partial losses. It finally closed up at 24,760 yuan/mt, gaining 130 yuan/mt or 0.53%. Trading volume decreased to 98,537 lots, while open interest fell by 2,008 lots to 89,897 lots. SHFE zinc continued to register a bullish candlestick, with the 5-day and 20-day moving averages above exerting resistance, and the 40-day and 60-day moving averages below providing support. Buoyed by LME gains, SHFE zinc fluctuated higher, but high domestic inventory pressure and off-season demand are expected to cap its upside.

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 for 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

7 hours ago

Data: SHFE, DCE market movement (Jun 11)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 11 Jun , 2026

7 hours ago

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

[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.....

7 hours ago

11 hours ago

Central China Zinc Smelter About to Resume After Maintenance

According to SMM insights, a zinc smelter in Central China began maintenance at the end of May and plans to return to normal operation on June 15, with an overall impact of approximately 5,000 mt.

11 hours ago