Zinc Ingot Inventory Continues to Decline, SHFE Zinc Center Shifts Upward [SMM Zinc Futures Brief Review]

Published: Dec 4, 2025 19:24

Save

[Zinc Ingot Inventory Continues to Decline, SHFE Zinc Center Rises]: The most-traded SHFE zinc 2601 contract opened at 22,850 yuan/mt. At the beginning of the session, it dipped to 22,835 yuan/mt, then fluctuated upward above the daily average line. Approaching the end of the session, it touched a high of 23,000 yuan/mt before falling back near the daily average line, finally closing up at 22,865 yuan/mt, an increase of 15 yuan/mt.

SMM December 4 news:

The most-traded SHFE zinc 2601 contract opened at 22,850 yuan/mt. At the beginning of the session, it touched a low of 22,835 yuan/mt, then fluctuated upward above the daily average line. Approaching the end of the session, it reached a high of 23,000 yuan/mt before falling back near the daily average line, finally closing up at 22,865 yuan/mt, an increase of 15 yuan/mt, or 0.07%. Trading volume increased to 82,557 lots, and open interest rose by 1,436 lots to 106,000 lots. The most-traded SHFE zinc contract recorded a bullish candlestick, supported by the upper Bollinger Band. Continued optimism about interest rate cuts, coupled with expectations for smelter production cuts, led to a further decline in SMM zinc ingot inventory on Thursday. Support from the supply side also bolstered zinc prices, collectively pushing the price center of the most-traded SHFE zinc contract higher.

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

1 hour ago

Improved Macro Sentiment Lifted the Center of SHFE Zinc in Line With LME Zinc [SMM Zinc Morning Comment]

[SMM Zinc Morning Comment] Overnight, SHFE zinc posted a small bullish candlestick, with the center of the daily candlestick moving higher again, while the middle band of the Bollinger Bands formed resistance above. Overnight, amid expectations that the geopolitical conflict may come to an end, China followed outside China with its center moving higher, but judging from current spot cargo transactions, as zinc prices rose, downstream pricing activity weakened, coupled with......

1 hour ago

LME Zinc Posted a Four-Day Winning Streak, Focus on Trump's Speech Today [SMM Morning Meeting Summary]

[SMM Morning Meeting Summary: LME Zinc Posted a Four-Day Winning Streak; Focus on Trump's Speech Today] Overnight, LME zinc posted a four-day winning streak, with the center of the daily candlestick moving higher. Trump released a TACO signal, expectations for an end to the geopolitical conflict in the Middle East increased, the US dollar index fell, nonferrous metals saw bargain hunting, zinc inventory remained at low levels, and bears' exit provided support, driving zinc prices all the way up. Focus on......

1 hour ago

18 hours ago

Data: SHFE, DCE market movement (Apr 01)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 01 Apr , 2026

18 hours ago