Pre-holiday stockpiling consumption was moderate; SHFE zinc consolidated on a subdued note [SMM zinc futures review]

Published: Sep 23, 2026 16:13 (GMT+8)

Save

[Pre-holiday stockpiling consumption average, SHFE zinc consolidates on a subdued note] The most-traded SHFE zinc 2611 contract opened at 26,750 yuan/mt, then declined all the way after the open, hitting a high of 26,760 yuan/mt in early trading and a low of 26,510 yuan/mt near the close, before ending down at 26,515 yuan/mt, down 195 yuan/mt or 0.73%, with trading volume up 11,160 lots to 60,363 lots.....

SMM, September 23:

The most-traded SHFE zinc 2611 contract opened at 26,750 yuan/mt. After the open, SHFE zinc trended lower throughout the session, hitting an intraday high of 26,760 yuan/mt in early trading and a low of 26,510 yuan/mt near the close, ultimately settling down at 26,515 yuan/mt, a decline of 195 yuan/mt or 0.73%. Trading volume increased by 11,160 lots to 60,363 lots, and open interest rose by 1,095 lots to 145,000 lots. SHFE zinc formed a bearish candlestick, with the upper Bollinger Band acting as resistance. The LME zinc cash-to-three-month backwardation pulled back to $52.8/mt, and weakness in LME zinc weighed on SHFE zinc. Additionally, with the upcoming dual holidays, pre-holiday stockpiling demand has been lackluster, keeping SHFE zinc consolidating on a subdued note during the day.

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

42 mins ago

Data: SHFE, DCE market movement (Sep 23)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 23 Sep , 2026

42 mins ago

2 hours ago

Santacruz acquires 500tpd lead-zinc flotation mill in Bolivia

Santacruz Silver Mining (TSX-V: SCZ) has acquired a 500-tonne-per-day milling facility in Bolivia for a total investment of about US$14 million, including a US$9.2 million purchase price of which US$4.6 million has been paid, with the balance due November 8, 2026, and plant handover expected on October 8, 2026. The facility comprises two 250-tpd circuits equipped with selective lead and zinc flotation systems that also recover high-grade silver, and will process ore from San Lucas, the company's wholly owned Bolivian subsidiary. Located about 5 km from the Reserva mine in the Caballo Blanco group, the plant is slated for commissioning in Q4 2026 and commercial production by year-end 2026. Routing San Lucas ore to the new mill frees capacity at Santacruz's three existing Bolivian plants, s

2 hours ago

4 hours ago

Tianjin Zinc: Freight Costs Rise, Premiums Increase [SMM Midday Commentary]

[Tianjin Zinc: Freight Rates Rise, Premiums Move Up] In the Tianjin market, mainstream transactions for #0 zinc ingot were concluded at 26,400-26,690 yuan/mt, with Zijin transactions at 26,620-26,830 yuan/mt. Transactions for #1 zinc ingot were concluded near 26,380-26,600 yuan/mt. Zijin was quoted at a premium of 120 yuan/mt against the 2610 contract, while Huxin was quoted at 28,115 yuan/mt. #0 zinc ingot was quoted at a discount of 20-100 yuan/mt against the 2610 contract. The Tianjin market was quoted at a discount of 50 yuan/mt against the Shanghai market.

4 hours ago