The export window remains open, SHFE zinc shows a strong trend [SMM Zinc Futures Brief Review]

Published: Nov 11, 2025 17:45

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[Export Window Remains Open, SHFE Zinc Shows Strength]: The most-traded SHFE zinc 2512 contract opened at 22,745 yuan/mt. At the start of the session, it touched a high of 22,750 yuan/mt, then fluctuated downward throughout the day. Approaching the close, it hit a low of 22,630 yuan/mt, and finally settled down by 45 yuan/mt at 22,675 yuan/mt, a decline of 0.2%. Trading volume decreased to 37,006 lots, and open interest fell by 1,493 lots to 107,000 lots.

SMM November 11:

The most-traded SHFE zinc 2512 contract opened at 22,745 yuan/mt. At the beginning of the session, it touched a high of 22,750 yuan/mt, then fluctuated downward throughout the day. Approaching the close, it hit a low of 22,630 yuan/mt, and finally closed down at 22,675 yuan/mt, down 45 yuan/mt, a decrease of 0.2%. Trading volume decreased to 37,006 lots, and open interest fell by 1,493 lots to 107,000 lots. SHFE zinc recorded a bearish candlestick, with the upper Bollinger Band forming resistance. On the fundamentals side, the zinc ingot export window remains open, and domestic traders continue to have export intentions. Additionally, tight domestic zinc ore supply persists, and market expectations for production cuts continue to support SHFE zinc in holding up well.

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.

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