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

Data: SHFE, DCE market movement (Jul 01)

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

1 hour ago

5 hours ago

U.S. Senators Seek to Extend Earth MRI Mapping Program Through 2031 to Support Critical Minerals Exploration

U.S. Senators Lisa Murkowski of Alaska and John Hickenlooper of Colorado have introduced the Earth MRI Reauthorization Act, which would extend funding for the U.S. Geological Survey’s Earth Mapping Resources Initiative (Earth MRI) through 2031. Earth MRI combines airborne geophysical surveys, geologic mapping, geochemical sampling and advanced data analytics to improve understanding of critical minerals, geothermal resources and subsurface geology. The program provides publicly available geological data that help reduce exploration risk and development costs for mining companies. According to U.S. officials, mineral exploration spending in Alaska has more than doubled since the initiative began. The proposed legislation would maintain support for critical minerals exploration while expanding the program to include natural hydrogen resources and enhanced geological hazard assessments, further strengthening the foundation for future domestic critical mineral supply chains.

5 hours ago

6 hours 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...

6 hours ago