Rate Hike Expectations Disrupt, SHFE/LME Zinc Price Ratio Rebounds to Around 7.0 and Fluctuates [SMM Zinc SHFE/LME Price Ratio Weekly Review]

Published: Jun 26, 2026 15:33

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[Rate Hike Expectations Disturb, SHFE/LME Zinc Price Ratio Rebounds to Around 7 and Fluctuates]: This week, the SHFE/LME zinc price ratio rebounded to around 7 and fluctuated, while the zinc ingot import window remained closed. Outside China, US Fed rate hike expectations continued to heat up, base metals generally fell, and the market had not shaken off inflation concerns, with the LME zinc price center pulling back.

SMM June 26 News: This week, the SHFE/LME zinc price ratio rebounded to fluctuate around 7.0, and the zinc ingot import window remained closed. Outside China, US Fed interest rate hike expectations continued to strengthen, non-ferrous metals fell broadly, and the market remained gripped by inflation concerns, pulling back LME zinc's center. In China, interest rate hike expectations weighed on macro sentiment, downstream zinc consumption was in the off-season, and SHFE zinc's center moved lower. Overall, the SHFE/LME zinc price ratio edged up slightly. The SHFE/LME zinc price ratio is expected to fluctuate next week.

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.

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