SHFE Zinc Center Shifted Upward [SMM Zinc Futures Brief Commentary]

Published: Mar 9, 2026 16:12

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[SHFE Zinc Center Shifted Higher]: The most-traded SHFE zinc 2604 contract opened at 24,255 yuan/mt. Early in the session, bulls reduced open interest, and SHFE zinc edged lower to test 24,160 yuan/mt. Subsequently, bears reduced open interest, lifting the center of SHFE zinc. It touched a high and finally closed up at 24,420 yuan/mt, up 160 yuan/mt, a gain of 0.66%. Trading volume increased to 161,000 lots, while open interest fell by 4,635 lots to 80,681 lots.

SMM News, March 9:

The most-traded SHFE zinc 2604 contract opened at 24,255 yuan/mt. Early in the session, bulls reduced open interest, and SHFE zinc edged down to a low below 24,160 yuan/mt. Later, bears reduced open interest, lifting the center of SHFE zinc, which touched a high and closed up at 24,420 yuan/mt, up 160 yuan/mt, a gain of 0.66%. Trading volume increased to 161,000 lots, while open interest fell by 4,635 lots to 80,681 lots. SHFE zinc posted a small bullish candlestick. Domestic inventory continued to build up, but consumption gradually improved, and fundamentals still provided support. SHFE zinc was mainly rangebound, and it is expected to remain mainly rangebound in night trading.

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