It opened at 25,550 yuan, reached 25,570 yuan and declined to 25,415 yuan near the close. Trading volume rose to 58,400 lots, while open interest increased by 1,556 lots to 102,000 lots.
The decline came as Chinese end-user orders remained weaker than expected during the peak season, leaving overall consumption subdued. Rising LME zinc inventories and broader pressure on base metals also weighed on the contract, which closed with a bearish daily candlestick near support from its lower Bollinger Band.
International zinc prices had already weakened during the week ended October 2.
Across the wider base-metals market, higher bond yields, a firmer dollar and uncertainty over energy costs contributed to weaker sentiment as China entered its Golden Week holiday.
Supply-side factors later offered limited support. In the following session, the SHFE zinc 2612 contract opened at 25,390 yuan, reached 25,595 yuan and closed at 25,440 yuan, up 65 yuan, or 0. Volume reached 48,690 lots and open interest rose by 2,268 lots to 105,000 lots.
That rebound followed lower-priced buying by downstream enterprises and a slight decline in domestic zinc-ingot inventories. Low treatment charges also left smelters facing weak production incentives under profit pressure, providing some support even as consumption remained soft. The contrasting sessions leave SHFE zinc balancing weak demand and rising visible inventories against constrained smelter economics, with the supplied market assessment pointing to continued short-term weakness.