锌：区间整理

Report Summary 1. Report Industry Investment Rating - No information provided on the industry investment rating in the given content. 2. Report's Core View - The report focuses on the zinc market, stating that zinc is in a range - bound consolidation. The trend intensity of zinc is 0, indicating a neutral outlook [1][2]. 3. Summary by Related Content Fundamental Tracking - Prices: The closing price of the Shanghai Zinc main contract was 22,520 yuan/ton, down 1.01% from the previous day, and the closing price of the LME Zinc 3M electronic trading was 2,645.5 dollars/ton, down 2.20% [1]. - Volumes and Positions: The trading volume of the Shanghai Zinc main contract was 149,791 lots, a decrease of 53,425 lots; the trading volume of LME Zinc was 5,473 lots, an increase of 471 lots. The position of the Shanghai Zinc main contract was 117,883 lots, a decrease of 4,544 lots; the position of LME Zinc was 207,331 lots, an increase of 2,089 lots [1]. - Premiums and Discounts: The premium of Shanghai 0 zinc was 165 yuan/ton, down 10 yuan/ton; the premium of Guangdong 0 zinc was 480 yuan/ton, up 50 yuan/ton; the premium of Tianjin 0 zinc was 245 yuan/ton, down 10 yuan/ton. The LME CASH - 3M premium was - 34.73 dollars/ton, down 1.3 dollars/ton [1]. - Inventory: The inventory of Shanghai Zinc futures was 2,856 tons, a decrease of 329 tons; the LME zinc inventory was 179,325 tons, a decrease of 725 tons [1]. News - China's Ministry of Foreign Affairs stated that China and the US have not conducted consultations or negotiations on tariff issues [2].