Supply-Side Concerns Persist, SHFE Zinc Center Shifts Upward [SMM Zinc Futures Brief Review]

Published: Jun 3, 2026 16:53

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[Supply-Side Concerns Persist, SHFE Zinc Center Shifts Upward] The most-traded SHFE zinc 2607 contract opened at 25,250 yuan/mt. In early trading, bulls slightly reduced their open interest, and SHFE zinc's center shifted downward to around 25,160 yuan/mt, moving sideways. It ultimately closed higher at 25,150 yuan/mt, up 165 yuan/mt or 0.66%. Trading volume increased to 151,000 lots, and open interest rose by 4,502 lots to 112,000 lots.

SMM, June 3:

The most-traded SHFE zinc 2607 contract opened at 25,250 yuan/mt. In early trading, bulls slightly reduced their positions, and the SHFE zinc price center shifted lower to around 25,160 yuan/mt, moving sideways. It eventually closed higher at 25,150 yuan/mt, up 165 yuan/mt or 0.66%. Trading volume rose to 151,000 lots, and open interest increased by 4,502 lots to 112,000 lots. SHFE zinc posted a bullish candlestick with a long upper shadow. Frequent supply disruptions on the ore side, declining profits at domestic smelters, and growing concerns over smelter production cuts helped push zinc prices higher. SHFE zinc is expected to hold up well during the night session.

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