Domestic Processing Fees Continue to Rise, SHFE Zinc May Fluctuate in the Short Term [SMM Zinc Futures Brief]

Published: Mar 14, 2025 16:52

Save

[Domestic Processing Fees Continue to Rise, SHFE Zinc May Fluctuate in the Short Term]: The most-traded SHFE zinc 2504 contract opened at 24,070 yuan/mt. At the beginning of the session, the center of SHFE zinc fluctuated around 24,200 yuan/mt, reaching a high of 24,260 yuan/mt during the period. Subsequently, as bulls reduced positions, SHFE zinc fluctuated downward below the daily average line. By the end of the session, bears reduced positions, allowing SHFE zinc to recover part of its losses, ultimately closing up at 24,140 yuan/mt, an increase of 25 yuan/mt or 0.10%. Trading volume decreased to 9,997 lots, and open interest fell by 1,916 lots to 59,469 lots.

SMM March 14 News: The most-traded SHFE zinc 2504 contract opened at 24,070 yuan/mt. In early trading, the center of SHFE zinc fluctuated around 24,200 yuan/mt, reaching a high of 24,260 yuan/mt during the session. Subsequently, as bulls reduced positions, SHFE zinc fluctuated downward below the daily average line. By the end of the session, bears reduced positions, allowing SHFE zinc to recover part of its losses, ultimately closing up at 24,140 yuan/mt, an increase of 25 yuan/mt or 0.10%. Trading volume decreased to 9,997 lots, and open interest fell by 1,916 lots to 59,469 lots. SHFE zinc recorded a bullish candlestick, with the upper Bollinger Band forming resistance and the 20/60-day moving averages providing support below. Fundamentally, domestic processing fees are currently continuing to rise, with expectations of further supply-side increases remaining, while downstream consumption is gradually improving. In the short term, SHFE zinc is expected to fluctuate upward.

》Subscribe to view SMM historical spot metal prices

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

22 mins ago

Rate Hike Lands, Macro Pressure Persists; China Destocking Supports SHFE Zinc to Rebound from Lows [SMM Zinc Futures Commentary]

[Rate Hike Lands, Macro Pressure Persists; China Destocking Supports SHFE Zinc's Rebound from Lows] In the daytime session, the SHFE zinc 2611 contract opened at 26,080 yuan/mt, dipped to 25,970 yuan/mt in early trading, then consolidated and rebounded, reaching a high of 26,335 yuan/mt near the close before settling at 26,280 yuan/mt, up 95 yuan/mt, or 0.36%. Trading volume increased to 64,810 lots, while open interest decreased by 1,860 lots to 124,000 lots......

22 mins ago

38 mins ago

Data: SHFE, DCE market movement (Sep 17)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 17 Sep , 2026

38 mins ago

45 mins ago

[SMM Analysis] Sustained Zinc Inventory Drawdown in China: Key Drivers & Outlook

[Zinc inventory falls from 270,000 mt to 213,500 mt: Who is driving this round of destocking?] Since late August, China's visible social inventory of refined zinc has dropped from 270,000 mt all the way to 213,500 mt, showing a sustained pullback overall. Entering September, social inventory declined at an accelerated pace. By region, Shanghai and Tianjin saw the most pronounced inventory pullbacks......

45 mins ago