锌：窄幅震荡

Report Summary 1. Report Industry Investment Rating - There is no information about the industry investment rating in the report. 2. Core Viewpoint - The zinc market shows a narrow - range oscillation pattern [1] 3. Summary by Related Content 3.1 Zinc Market Data - Prices: The closing price of SHFE zinc main contract was 22,655 yuan/ton, up 0.04%; the closing price of LME zinc 3M electronic trading was 2,805.5 dollars/ton, down 0.83% [1] - Trading Volume: The trading volume of SHFE zinc main contract was 127,217 lots, down 65,890 lots; the trading volume of LME zinc was 9,331 lots, up 1,056 lots [1] - Open Interest: The open interest of SHFE zinc main contract was 117,616 lots, down 6,845 lots; the open interest of LME zinc was 189,856 lots, up 1,083 lots [1] - Premium and Discount: Shanghai 0 zinc premium/discount was - 5 yuan/ton, down 5 yuan/ton; LME CASH - 3M premium/discount was - 1.95 dollars/ton, down 0.15 dollars/ton [1] - Inventory: SHFE zinc futures inventory was 15,307 tons, up 1,540 tons; LME zinc inventory was 112,150 tons, down 3,350 tons [1] 3.2 News - China and the US will continue to extend the suspension of the 24% part of the US reciprocal tariffs and China's counter - measures for 90 days. The two sides held a candid, in - depth and constructive exchange on economic and trade issues [2] 3.3 Trend Intensity - The trend intensity of zinc is 0, indicating a neutral view. The range of trend intensity is integers within [- 2,2], where - 2 means most bearish and 2 means most bullish [2][3]