Supply Concerns Increase, SHFE Zinc Center Shifts Upward [SMM SHFE Zinc Brief Comment]

Published: Jun 2, 2026 16:17

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[Supply Concerns Increased, SHFE Zinc Center Shifted Upward] The most-traded SHFE zinc 2607 contract opened at 24,760 yuan/mt. In the early session, SHFE zinc fluctuated along the daily average line. In the afternoon, bulls increased open interest and SHFE zinc fluctuated upward all the way, touching a high near 25,020 yuan/mt, and finally closed up at 24,985 yuan/mt, up 205 yuan/mt or 0.83%. The trading volume increased to 72,155 lots, and open interest increased by 2,299 lots to 107,000 lots.

SMM, June 2:

The most-traded SHFE zinc 2607 contract opened at 24,760 yuan/mt. In the early session, SHFE zinc fluctuated along the daily moving average. In the afternoon session, bulls increased open interest, driving SHFE zinc to fluctuate upward all the way, touching a high near 25,020 yuan/mt. It finally closed up at 24,985 yuan/mt, gaining 205 yuan/mt or 0.83%. Trading volume rose to 72,155 lots, and open interest increased by 2,299 lots to 107,000 lots. SHFE zinc posted a large bullish candlestick. Although demand remained weak, zinc concentrate TCs continued to decline, and there were frequent disturbances outside China, the center of zinc prices shifted upward. SHFE zinc is expected to hold up well during the night session.

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