Easing Middle East Tensions Released Positive Sentiment, SHFE Zinc Opened Higher with a Gap Today [SMM Zinc Futures Brief]

Published: Apr 8, 2026 16:58

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[Easing Middle East Tensions Released Positive Sentiment, SHFE Zinc Opened Higher with a Gap Today] The most-traded SHFE zinc 2605 contract opened at 23,910 yuan/mt. After the opening, amid a tug-of-war between longs and shorts, SHFE zinc moved sideways near the daily average line, touching a high of 23,970 yuan/mt in the early session and a low of 23,815 yuan/mt near the close, ultimately settling down at 23,815 yuan/mt, falling 5 yuan/mt or 0.02%. The trading volume decreased to 50,226 lots, and open interest increased by 339 lots to 78,989 lots.....

SMM April 8: The most-traded SHFE zinc 2605 contract opened at 23,910 yuan/mt. After the opening, amid a tug-of-war between longs and shorts, SHFE zinc moved sideways near the daily average line, touching a high of 23,970 yuan/mt in early trading and a low of 23,815 yuan/mt near the close, ultimately settling down at 23,815 yuan/mt, falling 5 yuan/mt or 0.02%. Trading volume decreased to 50,226 lots, and open interest increased by 339 lots to 78,989 lots. SHFE zinc posted a bearish candlestick, with the upper Bollinger Bands rail exerting pressure from above and the 5/40-day moving averages providing support below. The easing of US-Iran tensions released positive sentiment, driving SHFE zinc to open higher with a gap, but market uncertainties persisted. Combined with ample zinc ingot supply in China and tightening ore supply, SHFE zinc is expected to hold up well in the short term amid mixed signals, with attention on subsequent marginal changes in macro conditions.

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