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Home / Metal News / Domestic Social Inventory Declines, SHFE Zinc Continues to Fluctuate at Highs [SMM Zinc Futures Brief Review]

Domestic Social Inventory Declines, SHFE Zinc Continues to Fluctuate at Highs [SMM Zinc Futures Brief Review]

iconJan 26, 2026 15:19
[Domestic Social Inventory Declines, SHFE Zinc Maintains Highs] The most-traded SHFE zinc 2603 contract opened at 24,800 yuan/mt. After opening, a tug-of-war between longs and shorts kept SHFE zinc fluctuating rangebound near the daily average line, eventually closing up at 24,725 yuan/mt, an increase of 140 yuan/mt (a gain of 0.57%). Trading volume increased to 208,000 lots, while open interest rose by 1,452 lots to 122,000 lots.....

       SHFE zinc's most-traded 2603 contract opened at 24,800 yuan/mt. After opening, a tug-of-war between longs and shorts kept SHFE zinc fluctuating rangebound near the daily average line. It finally closed up at 24,725 yuan/mt, an increase of 140 yuan/mt, or 0.57%. Trading volume increased to 208,000 lots, and open interest rose by 1,452 lots to 122,000 lots. SHFE zinc recorded a small bullish candlestick, supported by various moving averages below. Domestically, production cuts at some smelters and a continued decline in social inventory provided some support for zinc prices. Zinc prices are expected to fluctuate at highs in the short term.

 

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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