锌：上行动力不足

Group 1: Report Industry Investment Rating - The report does not mention the industry investment rating [1][2][3] Group 2: Report's Core View - Zinc has insufficient upward momentum. The trend strength of zinc is 0, indicating a neutral view [1][3] Group 3: Summary Based on Related Catalogs 1. Fundamental Tracking - Price: The closing price of the main Shanghai zinc contract was 24,505 yuan/ton, down 0.24%; the closing price of the LME zinc 3M electronic disk was 3,382 dollars/ton, down 0.03% [1] - Volume and Open Interest: The trading volume of the main Shanghai zinc contract was 42,807 lots, a decrease of 15,547 lots; the trading volume of LME zinc was 7,357 lots, a decrease of 1,925 lots. The open interest of the main Shanghai zinc contract was 78,739 lots, an increase of 1,001 lots; the open interest of LME zinc was 230,682 lots, an increase of 1,328 lots [1] - Premium and Discount: The premium of Shanghai 0 zinc was -35 yuan/ton, unchanged; the LME CASH - 3M premium was -23.73 dollars/ton, a decrease of 2.17 dollars/ton [1] - Inventory: The Shanghai zinc futures inventory was 34,235 tons, an increase of 2,971 tons; the LME zinc inventory was 106,750 tons, a decrease of 175 tons [1] - Other Products: The price of 1.0mm hot - dipped galvanized coil was 4,033 yuan/ton, unchanged; the price of Shanghai Zamak - 5 zinc alloy was 25,710 yuan/ton, a decrease of 200 yuan/ton [1] 2. News - The People's Bank of China will continue to implement a moderately loose monetary policy and carry out regular treasury bond trading operations to support the real economy and the financial market [2] - Ray Dalio warns that the US is on the verge of order collapse and civil war, and gold should account for 5% - 15% of the investment portfolio as a safe - haven asset [2] 3. Trend Strength - The trend strength of zinc is 0, with a neutral view on the zinc market [3]