锌：压力渐显

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core View The report focuses on the zinc market, indicating that zinc is facing increasing pressure. The trend strength of zinc is rated as 0, suggesting a neutral outlook [1][3]. 3. Summary by Relevant Catalog 3.1 Fundamental Tracking - Price and Volume: The closing price of SHFE zinc main contract was 23,070 yuan/ton, down 0.92%; the closing price of LME zinc 3M electronic disk was 3,130.5 dollars/ton, up 1.03%. The trading volume of SHFE zinc main contract was 129,703 lots, a decrease of 50,551 lots; the trading volume of LME zinc was 9,968 lots, a decrease of 3,303 lots [1]. - Inventory: SHFE zinc futures inventory was 56,067 tons, a decrease of 2,330 tons; LME zinc inventory was 58,150 tons, an increase of 400 tons [1]. - Premium and Discount: Shanghai 0 zinc premium was 65 yuan/ton, a decrease of 5 yuan/ton; LME CASH - 3M premium was 166.73 dollars/ton, an increase of 3.73 dollars/ton [1]. 3.2 News - Sino - US Economic and Trade Relations: He Lifeng stated that China and the US should expand the cooperation list and promote the stable, healthy and sustainable development of Sino - US economic and trade relations. China will continue to expand high - level opening - up and welcome more US enterprises to invest in China [2]. - AI Chip Sale: The US approved the sale of NVIDIA H200 AI chips to China, and the Chinese Foreign Ministry spokesperson expressed that China advocates win - win cooperation between the two countries [2]. 3.3 Trend Strength The trend strength of zinc is 0, indicating a neutral view on the zinc market, with the range of trend strength being integers in the [-2, 2] interval [3].