Group 1: Report Information - Report Name: Zinc Futures Daily Report [1] - Date: June 12, 2025 [2] Group 2: Investment Rating - Not provided Group 3: Core View - The downward momentum of Shanghai zinc has weakened, and the main contract closed at 22,140 yuan/ton with a decrease in positions. The net short position of the top 20 seats decreased. As the price rebounded, downstream purchasing sentiment worsened, and spot prices in three regions declined. The current low social inventory provides support for zinc prices, but with demand entering the off - season and supply increasing in June, the zinc market has a pattern of increasing supply and weak demand, maintaining a short - allocation view [7] Group 4: Market Review Futures Market - For SHFE zinc 2506, the opening price was 22,190 yuan/ton, closing at 22,430 yuan/ton, with a high of 22,485 yuan/ton, a low of 22,190 yuan/ton, a rise of 335 yuan/ton (1.52%), and a position of 2,510 contracts with a decrease of 870 contracts [7] - For SHFE zinc 2507, the opening price was 21,900 yuan/ton, closing at 22,140 yuan/ton, with a high of 22,205 yuan/ton, a low of 21,855 yuan/ton, a rise of 270 yuan/ton (1.23%), and a position of 125,779 contracts with a decrease of 9,292 contracts [7] - For SHFE zinc 2508, the opening price was 21,665 yuan/ton, closing at 21,905 yuan/ton, with a high of 21,965 yuan/ton, a low of 21,665 yuan/ton, a rise of 230 yuan/ton (1.06%), and a position of 90,246 contracts with a decrease of 750 contracts [7] Spot Market - On June 11, 2025, the mainstream transaction price of 0 zinc was 22,215 - 22,415 yuan/ton, and that of 1 zinc was 22,145 - 22,345 yuan/ton. Quotes in different regions had different premiums or discounts [8] - In the Ningbo market, the mainstream brand 0 zinc was traded at 22,225 - 22,375 yuan/ton, with a premium of 295 yuan/ton over the 2507 contract [8] - In the Tianjin market, 0 zinc was traded at 22,070 - 22,370 yuan/ton, and 1 zinc was traded at 21,770 - 21,960 yuan/ton. The market was at a discount of about 40 yuan/ton compared to the Shanghai market [8][9] - In the Guangdong market, 0 zinc was traded at 22,160 - 22,380 yuan/ton, with a premium of 275 yuan/ton over the 2507 contract, and the price was at par with the Shanghai spot [9] Group 5: Data Overview - The report includes figures such as the price trends of zinc in two markets, SHFE monthly spreads, SMM seven - region weekly zinc ingot inventory, and LME zinc inventory, with data sources from Wind, SMM, and the research and development department of CCB Futures [11][13]
建信期货锌期货日报-20250612
Jian Xin Qi Huo·2025-06-12 02:45