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锌产业周报-20250707
Dong Ya Qi Huo·2025-07-07 03:09

Core View - China's zinc consumption is growing steadily, supporting the demand fundamentals [3] - Low prices are forcing some zinc enterprises to cut production, alleviating supply pressure [3] - Negative factors: Social inventories are continuously accumulating slightly, indicating oversupply; zinc consumption in Western developed countries has dropped significantly, dragging down global demand [3] - Trading consultation view: It is recommended to monitor changes in social inventories to judge market trends [3] Processing and End - User Demand Galvanized Sheet and Coil - Galvanized sheet and coil market sentiment index (weekly) is presented with data from 2023 - 2025 [5] - Galvanized sheet and coil weekly inventory - seasonal data from 2021 - 2025 is provided [5] - Steel mill galvanized sheet and coil weekly production - seasonal data from 2021 - 2025 is shown [5] Net Exports and Imports - Net export seasonality of galvanized sheets (strips), die - cast zinc alloys, color - coated sheets (strips), and zinc oxide are presented with data from 2021 - 2025 [6][9] Real Estate - Cumulative year - on - year data of real estate development investment, project progress, sales area, and unsold area from 2015 - 2024 are provided [12][14] - Seasonal data of 100 large - and medium - sized cities' land transaction area and 30 large - and medium - sized cities' commercial housing transaction volume from 2021 - 2025 are shown [16][17] Infrastructure - Cumulative year - on - year data of infrastructure fixed - asset investment (excluding rural households) in transportation, warehousing, postal services, water conservancy, environment, public facilities management, and tertiary industry infrastructure construction from 2020 - 2024 are presented [20] Supply and Supply - Side Profits Zinc Concentrate - Monthly import volume seasonality of zinc concentrate from 2021 - 2025 is provided [22] - Zinc concentrate TC (treatment charge) data from 2022 - 2025 are presented [24] Zinc Production - Monthly production seasonality of SMM zinc ingots from 2021 - 2025 is shown [25] - China's zinc ingot monthly production + import volume seasonality from 2021 - 2025 is provided [26] Inventory - Zinc concentrate raw material inventory days from 2021 - 2025 are presented [28] - LME and SHFE zinc inventory data from 2021 - 2025 are provided, including total inventory and futures inventory [28][29] Futures and Spot Market Review Zinc Prices - Domestic and international zinc price trends from 2023 - 2025 are presented [31] - LME zinc closing price vs. US dollar index from 2022 - 2025 are shown [34] Trading Volume and Open Interest - Trading volume and open interest of Shanghai zinc futures' main contract from 2023 - 2025 are presented [32] Premiums and Discounts - LME zinc (spot/three - month) and 3 - 15 premiums and discounts from 2023 - 2025 are presented [35] - Seasonal data of LME zinc (spot/three - month) premiums and discounts from 2021 - 2025 are provided [36] - Seasonal data of Tianjin zinc ingot basis from 2021 - 2025 are presented [38] - Three - location zinc ingot basis trends from 2023 - 2025 are shown [40]