长江有色：26日锌价上涨 下游逢涨压价

Core Viewpoint - The domestic zinc market has experienced an upward trend in prices, driven by macroeconomic factors and increased trading activity in related metals [2][3]. Group 1: Market Performance - The Shanghai zinc futures contract (2603) opened at 24,715 CNY/ton, reaching a high of 24,880 CNY/ton and closing at 24,725 CNY/ton, reflecting an increase of 160 CNY or 0.65% [1]. - The trading volume for the Shanghai zinc contract was 207,921 lots, an increase of 34,645 lots, while open interest rose by 1,507 lots to 121,627 lots [1]. - The latest price for London zinc was reported at 3,292.5 USD, up by 23.5 USD [1]. Group 2: Price Statistics - The ccmn comprehensive zinc price for 0 zinc was reported at 24,670-24,770 CNY/ton, with an average of 24,720 CNY, an increase of 70 CNY [1]. - The 1 zinc price ranged from 24,590 to 24,690 CNY/ton, averaging 24,640 CNY, also up by 70 CNY [1]. - In Guangdong, the 0 zinc price was reported at 24,440-24,740 CNY/ton, averaging 24,590 CNY, an increase of 100 CNY [1]. Group 3: Supply and Demand Dynamics - The global zinc market deficit widened from 2,800 tons in October to 7,700 tons in November, according to the International Lead and Zinc Study Group (ILZSG) [3]. - Domestic zinc supply is affected by winter production halts in northern mines, although the recent recovery in import zinc concentrate margins has reopened import windows [3]. - The overall trading atmosphere in the domestic market is stable, with a slight increase in transaction volumes, although demand remains cautious due to seasonal weather conditions [3].