电解锌：8 日价格环比跌 40 元，短期行情或偏弱

Core Viewpoint - The domestic electrolytic zinc market is experiencing a significant supply-demand imbalance, leading to a potentially weak and volatile market in the short term [1] Market Price and Trends - As of August 8, the domestic electrolytic zinc spot price is 22,480 yuan per ton, reflecting a decrease of 40 yuan per ton, or 0.18% [1] - Recent market trends show a slight recovery in zinc prices driven by macroeconomic factors, particularly a sharp decline in U.S. non-farm payrolls in July, which fell to 73,000, the lowest in nine months [1] Supply and Demand Dynamics - The supply side is pressured by increased production capacity from domestic smelters and a relaxed mining environment, contributing to downward pressure on zinc prices [1] - On the demand side, the market is currently in a low season, with suboptimal operating rates in galvanizing enterprises and weak demand, leading to an accumulation of zinc ingot social inventory [1] Market Outlook - After the macroeconomic sentiment is digested, the market is expected to revert to fundamentals, likely resulting in an overall weak performance [1]