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

Published: Jun 3, 2026 16:53

Save

[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.

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 for 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

July Refined Zinc Production Continues to Decline, Watch Actual Maintenance at Major Smelters [SMM Analysis]

[July Refined Zinc Production Continues to Decline, Watch Actual Maintenance at Large Smelters] According to SMM statistics, in June 2026, SMM China refined zinc production fell by around 18,000 mt, or over 3.2%, MoM and 3.8% YoY. Cumulative production from January to June increased by over 4% YoY, falling short of expectations...

1 hour ago

[SMM Flash] Qatar July Sulfur Official Contract Price at $890/mt

Market sources say Qatar's July sulfur official contract price has been released at $890/mt, up $85/mt MoM.

1 hour ago

3 hours ago

Supply Side Supports SHFE Zinc Rise, Overnight Price Center Edges Up [SMM Zinc Morning Comment]

[SMM Zinc Morning Comment] Overnight, the most-traded SHFE zinc 2608 contract opened at 24,460 yuan/mt. In early trading, the price edged up slightly before drifting lower to a low of 24,420 yuan/mt. Subsequently, bulls added positions, driving the price up to a high of 24,620 yuan/mt. Towards the end of the session, as bulls reduced positions, upward momentum waned, and the contract finally settled up at 24,585 yuan/mt, up 235 yuan/mt, or 0.97%. Trading volume fell to 59,930 lots, while open interest increased by 3,478 lots to 98,932 lots.

3 hours ago