Fundamental Tug-of-War Between Longs and Shorts, SHFE Zinc Maintains Fluctuating Trend [SMM Zinc Futures Commentary]

Published: Jun 17, 2026 18:37
[Fundamental Tug-of-War Between Longs and Shorts, SHFE Zinc Maintains Fluctuating Trend] The most-traded SHFE zinc 2608 contract opened at 24,705 yuan/mt. After opening, SHFE zinc fluctuated around the daily average line, hitting a high of 24,745 yuan/mt during the session. Near the end of the session, it dipped to a low of 24,640 yuan/mt, and finally closed up at 24,740 yuan/mt.....

SMM June 17 News:

The most-traded SHFE zinc 2608 contract opened at 24,705 yuan/mt. After opening, SHFE zinc fluctuated around the daily moving average, hit a high of 24,745 yuan/mt during the session, and near the end of the session, it dropped to a low of 24,640 yuan/mt, finally closing up at 24,740 yuan/mt, up 25 yuan/mt, or 0.1%. Trading volume increased to 33,219 lots, and open interest rose by 2,747 lots to 86,717 lots. SHFE zinc recorded a bullish candlestick, with the upper band of the Bollinger Bands forming resistance. On China's fundamentals side, tight ore supply remained unchanged, but consumption was weak, with the tug-of-war between longs and shorts continuing. Zinc prices continued to maintain a fluctuating trend. It is necessary to keep an eye on the evening's "debut" of Warsh.

 

 

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Fundamental Tug-of-War Between Longs and Shorts, SHFE Zinc Maintains Fluctuating Trend [SMM Zinc Futures Commentary] - Shanghai Metals Market (SMM)