Raw Material Issues Continue to Impact SHFE Zinc Moves Sideways [SMM Zinc Futures Brief Review]

Dec 26, 2025, at 6:10 pm

[Raw Material Issues Continue to Affect SHFE Zinc in Sideways Movement]: The most-traded SHFE zinc 2602 contract opened at 23,110 yuan/mt. After opening, SHFE zinc fluctuated upward throughout the session, hitting a low of 23,090 yuan/mt early in the session and reaching a high of 23,250 yuan/mt near the close. It finally closed up at 23,170 yuan/mt, gaining 65 yuan/mt, an increase of 0.28%.

SMM Dec. 26:

The most-traded SHFE zinc 2602 contract opened at 23,110 yuan/mt. After opening, SHFE zinc fluctuated upward, hitting a low of 23,090 yuan/mt early in the session and reaching a high of 23,250 yuan/mt near the close. It finally closed at 23,170 yuan/mt, up 65 yuan/mt, or 0.28%. Trading volume increased to 88,555 lots, and open interest rose by 2,392 lots to 97,425 lots. SHFE zinc formed a bullish candlestick, supported by the 40-day moving average. Zinc concentrate TCs continued to operate at low levels, and smelters maintained production cuts due to raw material issues and ongoing maintenance. Tight supply continued to support zinc prices, and SHFE zinc maintained sideways movement.

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