China’s inventory buildup continued and SHFE zinc center pulled back [SMM Zinc Review]

Published: Jun 9, 2026 15:44

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[China Inventory Buildup Continues SHFE Zinc Center Pulls Back] The most-traded SHFE zinc 2607 contract opened at 24,680 yuan/mt, with bulls cutting positions at the open, then swung wildly below the daily average line. During the session, it touched a high of 24,740 yuan/mt, and near the close dipped to a low of 24,555 yuan/mt, finally ending down at 24,630 yuan/mt, a decline of 65 yuan/mt or 0.26%. Trading volume rose to 68,195 lots, and open interest fell by 4,987 lots to 91,905 lots.....

SMM, June 8: The most-traded SHFE zinc 2607 contract opened at 24,680 yuan/mt. At the open, bulls reduced positions, and SHFE zinc swung wildly below the daily average line. During the session, it hit a high of 24,740 yuan/mt, and near the end, it fell to a low of 24,555 yuan/mt. It eventually closed down at 24,630 yuan/mt, down 65 yuan/mt or 0.26%. Trading volume increased to 68,195 lots, and open interest decreased by 4,987 lots to 91,905 lots. SHFE zinc recorded another bearish candlestick, with the 5- and 40-day moving averages above exerting pressure. Domestic inventory pressure is significant and continues to increase, posing strong resistance above SHFE zinc. Moreover, US non-farm payrolls data exceeded expectations, boosting market bets on interest rate hikes, and the zinc price center moved lower.

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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