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TCs Remain at Low Levels, SHFE Zinc Maintains Fluctuating Trend [SMM Zinc Futures Brief Review]

iconDec 24, 2025 17:14
[TCs Remain Low, SHFE Zinc Maintains Fluctuating Trend]: The most-traded SHFE zinc 2601 contract opened at 23,290 yuan/mt, dipped to 23,045 yuan/mt in early trading, maintained rangebound fluctuations after opening, touched a high of 23,315 yuan/mt near the close, and finally settled at 23,105 yuan/mt, up 15 yuan/mt, a gain of 0.06%.

SMM December 24:

       The most-traded SHFE zinc contract 2602 opened at 23,130 yuan/mt. At the beginning of the session, it dipped to 23,130 yuan/mt, then maintained a rangebound fluctuation after opening. Approaching the close, it touched a high of 23,275 yuan/mt and finally closed up at 23,230 yuan/mt, gaining 125 yuan/mt, or 0.54%. Trading volume decreased to 63,485 lots, while open interest increased by 1,007 lots to 95,197 lots. SHFE zinc formed a bullish candlestick, supported by the 5-day moving average. Zinc concentrate TCs continued to operate at low levels, and smelting output reductions persisted, providing a bottom support for zinc prices from the supply side. During the day, SHFE zinc maintained a fluctuating trend.

 

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