长江有色：宏观情绪偏好及政策指引 14日锌价或上涨

Group 1 - The core viewpoint of the articles indicates that the zinc market is experiencing a mixed sentiment, with domestic supply and demand both weak, yet supported by surrounding metal price increases and favorable policies [1][2]. - The overnight London zinc price fluctuated, closing at $3202 per ton, down $12 or 2.05%, with a trading volume of 19,113 lots, an increase of 7,933 lots [1]. - The domestic zinc market is expected to maintain a strong trend due to low processing fees and supportive policies, despite marginal increases in supply that may limit price rebounds [2]. Group 2 - The macroeconomic environment shows that the U.S. December CPI rose by 2.7% year-on-year, aligning with expectations and maintaining market anticipation for potential interest rate cuts by the Federal Reserve [1]. - The processing fees for domestic zinc concentrate have generally declined, with northern regions experiencing larger decreases than southern regions, while the import window has opened, leading to increased transactions of imported ore [2]. - The overall market sentiment is influenced by macroeconomic factors and the performance of surrounding metals, with expectations of a short-term increase in zinc prices due to heightened emotional responses in the market [2].