锌：横盘震荡

Report Summary 1) Report Industry Investment Rating - The trend strength of zinc is 0, indicating a neutral stance. The range of trend strength is an integer within the [-2,2] interval, with -2 being the most bearish and 2 being the most bullish [3] 2) Core View - The zinc market is in a sideways oscillation state [1] 3) Summary by Relevant Catalogs [Fundamental Tracking] - Prices: The closing price of the main Shanghai zinc contract was 23,035 yuan/ton, up 0.26% from the previous day; the closing price of the LME zinc 3M electronic disk was 3,071.5 dollars/ton, up 1.20% [1] - Volumes and Positions: The trading volume of the main Shanghai zinc contract was 86,320 lots, a decrease of 17,545 lots; the trading volume of LME zinc was 13,235 lots, a decrease of 7,726 lots. The open interest of the main Shanghai zinc contract was 83,725 lots, an increase of 2,951 lots; the open interest of LME zinc was 227,012 lots, a decrease of 395 lots [1] - Premiums and Discounts: The premium of Shanghai 0 zinc was 110 yuan/ton, an increase of 20 yuan/ton; the LME CASH - 3M premium was -21.57 dollars/ton, a decrease of 5.1 dollars/ton [1] - Inventories: The Shanghai zinc futures inventory was 45,949 tons, a decrease of 1,920 tons; the LME zinc inventory was 99,400 tons, an increase of 1,700 tons [1] [News] - Trump stated that the next Fed Chair must be a "super - dove" and will soon announce the candidate, believing the mortgage rate will further decline and that the new chair should consult with him on interest rate setting [2] - US inflation slowed more than expected in November, with the core CPI rising 2.6% year - on - year, the lowest since 2021. Despite data noise and technical interference, the cooling inflation trend provides hope for the market and strengthens the discussion on future interest rate cuts [2][3]