Report Summary 1. Report Industry Investment Rating - No information provided on the industry investment rating [1] 2. Core View - The zinc market has support, with specific data showing various changes in zinc-related indicators [1] 3. Summary by Relevant Catalogs Fundamentals Tracking - Price and Volume: The closing price of Shanghai Zinc's main contract was 21,825 yuan/ton, up 0.11% from the previous day; the closing price of LME Zinc 3M electronic trading was 3,042 dollars/ton, up 1.25%. The trading volume of Shanghai Zinc's main contract was 162,377 lots, a decrease of 18,168 lots; the trading volume of LME Zinc was 13,813 lots, an increase of 4,405 lots. The open interest of Shanghai Zinc's main contract was 127,778 lots, a decrease of 14,622 lots; the open interest of LME Zinc was 224,342 lots, an increase of 1,685 lots [1] - Premium and Discount: The premium of Shanghai 0 zinc was -30 yuan/ton, down 5 yuan; the LME CASH - 3M premium was 67.56 dollars/ton, up 17.56 dollars. The premium of Guangdong 0 zinc was -50 yuan/ton, unchanged; the import bill of lading premium was 135 dollars/ton, unchanged. The premium of Tianjin 0 zinc was -40 yuan/ton, down 5 yuan; the spot import profit and loss of zinc ingots was -3,178.54 yuan/ton, a decrease of 167.49 yuan [1] - Inventory: Shanghai Zinc's futures inventory was 57,221 tons, a decrease of 2,043 tons; LME Zinc inventory was 38,200 tons, a decrease of 1,150 tons. The LME zinc cancelled warrants were 10,325 tons, a decrease of 1,000 tons; the LME off - warrant (T + 3) was 10,645 tons, a decrease of 204 tons [1] - Related Product Prices: The price of 1.0mm hot - dipped galvanized coil including tax was 4,250 yuan/ton, down 3 yuan. The price of Shanghai Zamak - 5 zinc alloy was 23,005 yuan/ton, up 200 yuan; the price of Shanghai Zamak - 3 zinc alloy was 22,455 yuan/ton, up 200 yuan. The price of zinc oxide ≥99.7% was 21,000 yuan/ton, up 200 yuan [1] News - The minutes of the Federal Reserve meeting showed that most officials said it might be appropriate to continue with loose policies this year, while a few might have supported not cutting interest rates in September. There are differences among Fed officials on the magnitude of interest rate cuts, and the government shutdown has led to delays in the release of multiple economic data, making it more difficult for Fed officials to assess the economic outlook [2] Trend Intensity - The trend intensity of zinc is 0, indicating a neutral trend [2][3]
国泰君安期货：锌：存在支撑
Guo Tai Jun An Qi Huo·2025-10-09 07:01