Group 1 - The domestic zinc futures market is experiencing a downward trend, with the main contract for zinc opening at 23,310.00 CNY/ton and showing a decline of approximately 1.82% [1] - Various institutions have provided insights on the future of zinc prices, indicating that the macroeconomic environment remains loose due to the Federal Reserve's dovish signals, which may continue into 2026 [2] - Zinc ore shortages are leading to a continuous decline in domestic zinc concentrate processing fees, while the overall pricing for imported zinc concentrates is also trending downward [2] Group 2 - The production of refined zinc is expected to decrease due to companies actively reducing output in response to raw material and profit issues, with a reported decline of 12,100 tons in social inventory last week [3] - The demand side is weakening, particularly in the real estate sector, which is negatively impacting overall consumption, while the automotive sector is the only area expected to show growth [2][3] - The current market sentiment for non-ferrous metals is declining, and zinc prices may retract some gains as the market adjusts to the anticipated oversupply in the coming year [3]
消费端逐步转向淡季 预计锌价维持外强内弱格局
Jin Tou Wang·2025-12-16 06:04