长江有色：弱美元与弱基本面博弈 10日锌价或涨跌有限

Group 1 - The core viewpoint indicates that the zinc price is under pressure due to a significant decline in the operating rates of downstream enterprises, despite some support from a weaker US dollar [1][2] - Overnight, the London zinc price experienced a slight decline of 0.03%, closing at $3382 per ton, with trading volume decreasing by 1925 contracts [1] - The domestic market is seeing a notable drop in operating rates ahead of the Spring Festival, with galvanizing enterprises down 7.49% to 38.6%, die-casting zinc alloy enterprises down 3.94% to 42.4%, and zinc oxide enterprises down 8.16% to 50.37% [2] Group 2 - The macroeconomic environment shows a 0.8% drop in the US dollar index, reaching a one-week low, which supports zinc prices by enhancing the attractiveness of risk assets to overseas buyers [1] - Upcoming US economic data releases, including retail sales and non-farm payroll reports, are expected to influence Federal Reserve monetary policy, potentially impacting zinc prices if the data is weak [1] - Despite the current market's low trading activity and subdued consumption sentiment, there is potential for a limited fluctuation in zinc prices due to the strength of other non-ferrous metals and possible export opportunities [2]