Export Window Open but Consumption Weak; SHFE Zinc Consolidates at Highs [SMM Zinc Futures Brief]

Published: Aug 18, 2026 14:20

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[Export Window Open but Consumption Weak, SHFE zinc Consolidates at Highs] The most-traded SHFE zinc 2610 contract opened at 25,775 yuan/mt in the daytime session, briefly rose to 25,800 yuan/mt after the open, then fell under pressure to an intraday low of 25,620 yuan/mt. In the afternoon, SHFE zinc consolidated at lows before recovering somewhat, and eventually closed down 65 yuan/mt, or 0.25%, at 25,705 yuan/mt......

SMM, August 18:

The most-traded SHFE zinc 2610 contract opened at 25,775 yuan/mt in the daytime session. After the open, prices briefly rose to 25,800 yuan/mt, then fell under pressure, hitting an intraday low of 25,620 yuan/mt. In the afternoon, SHFE zinc consolidated at lows before recovering somewhat, eventually closing down at 25,705 yuan/mt, down 65 yuan/mt, or 0.25%. Trading volume increased to 70,589 lots, and open interest increased by 3,955 lots to 152,000 lots. SHFE zinc recorded a bearish candlestick. On the fundamentals side, the zinc ingot export window opened, with some cargoes flowing out. However, current consumption remains in the off-season, downstream willingness to purchase at high prices is limited, and spot trading improved only modestly. SHFE zinc consolidated on a subdued note during the day, and zinc prices are expected to continue to consolidate at highs in the short term.

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