China’s inventory buildup continued and SHFE zinc center pulled back [SMM Zinc Review]

Published: Jun 9, 2026 15:44

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[China Inventory Buildup Continues SHFE Zinc Center Pulls Back] The most-traded SHFE zinc 2607 contract opened at 24,680 yuan/mt, with bulls cutting positions at the open, then swung wildly below the daily average line. During the session, it touched a high of 24,740 yuan/mt, and near the close dipped to a low of 24,555 yuan/mt, finally ending down at 24,630 yuan/mt, a decline of 65 yuan/mt or 0.26%. Trading volume rose to 68,195 lots, and open interest fell by 4,987 lots to 91,905 lots.....

SMM, June 8: The most-traded SHFE zinc 2607 contract opened at 24,680 yuan/mt. At the open, bulls reduced positions, and SHFE zinc swung wildly below the daily average line. During the session, it hit a high of 24,740 yuan/mt, and near the end, it fell to a low of 24,555 yuan/mt. It eventually closed down at 24,630 yuan/mt, down 65 yuan/mt or 0.26%. Trading volume increased to 68,195 lots, and open interest decreased by 4,987 lots to 91,905 lots. SHFE zinc recorded another bearish candlestick, with the 5- and 40-day moving averages above exerting pressure. Domestic inventory pressure is significant and continues to increase, posing strong resistance above SHFE zinc. Moreover, US non-farm payrolls data exceeded expectations, boosting market bets on interest rate hikes, and the zinc price center moved lower.

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