Report Summary 1) Report Industry Investment Rating No information provided. 2) Core View The report focuses on the zinc market, showing an internal - external differentiation situation. The trend strength of zinc is rated as neutral [1][3]. 3) Summary by Relevant Catalogs Fundamental Tracking - **Prices**: The closing price of SHFE zinc main contract was 21,940 yuan/ton, down 0.34%; the closing price of LME zinc 3M electronic disk was 2,940.5 dollars/ton, down 0.29% [1]. - **Trading Volume**: The trading volume of SHFE zinc main contract was 91,938 lots, a decrease of 32,328 lots; the trading volume of LME zinc was 12,267 lots, a decrease of 7,005 lots [1]. - **Open Interest**: The open interest of SHFE zinc main contract was 87,075 lots, a decrease of 2,837 lots; the open interest of LME zinc was 224,550 lots, an increase of 749 lots [1]. - **Premiums and Discounts**: Shanghai 0 zinc premium/discount was - 40 yuan/ton, an increase of 10 yuan/ton; LME CASH - 3M premium/discount was 129.5 dollars/ton, an increase of 14.5 dollars/ton [1]. - **Inventory**: SHFE zinc futures inventory was 67,466 tons, an increase of 1,800 tons; LME zinc inventory was 38,300 tons, a decrease of 50 tons [1]. - **Related Products**: The price of 1.0mm hot - dipped galvanized coil was 4,200 yuan/ton, down 13 yuan/ton; the price of Shanghai Zamak - 5 zinc alloy was 23,095 yuan/ton, down 90 yuan/ton [1]. News The US intends to extend the suspension period of tariffs on Chinese goods in exchange for China delaying the implementation of rare - earth export controls. China's Ministry of Foreign Affairs has stated its stance on rare - earth export controls and Sino - US economic and trade issues [1].

Core Viewpoint - The Chinese government has reiterated its stance on rare earth export controls, emphasizing that these measures are in line with international obligations and aimed at maintaining global peace and regional stability [1] Group 1: U.S. Response - The U.S. Treasury Secretary indicated that if China halts its strict rare earth export control plan, the U.S. may extend the three-month exemption on tariffs imposed on China [1] - President Trump is reportedly prepared to meet with Chinese leaders in the near future [1] Group 2: Japan's Concerns - Japan's Finance Minister expressed deep concern regarding China's recent announcement of broad export controls on rare earths, suggesting that the G7 should unite to address this issue [1] - The Chinese Foreign Ministry responded by stating that it has clarified its position on rare earth export controls multiple times, asserting that these measures are lawful and aimed at ensuring global supply chain security [1]

Core Points - The U.S. Treasury Secretary indicated that if China halts its strict rare earth export control measures, the U.S. may extend the three-month exemption on tariffs imposed on China [1] - The Chinese Foreign Ministry reiterated its stance on rare earth export controls, emphasizing that these measures are in line with international obligations and aim to maintain global supply chain stability [3] Group 1 - The U.S. Secretary of the Treasury's comments suggest a potential diplomatic engagement between the U.S. and China, with President Trump preparing to meet with Chinese leaders soon [1] - Japan expressed significant concern over China's recent announcement of broad export control measures on rare earths, calling for a collective response from the G7 [3] - The Chinese government stated that its export control policies are legally justified and intended to uphold international peace and regional stability, while also being consistent with international practices [3]

Core Viewpoint - The Chinese government maintains a consistent and clear stance on Sino-U.S. economic and trade issues, emphasizing that trade wars and tariff battles yield no winners and do not serve the interests of either party [1] Group 1 - The Chinese side advocates for resolving issues through negotiation based on equality, respect, and mutual benefit [1]

Core Viewpoint - The article emphasizes that there are no winners in a trade war or tariff conflict, and it is not in the interest of either party to engage in such disputes [1] Group 1 - China maintains a consistent and clear stance on handling Sino-U.S. economic and trade issues, advocating for negotiation based on equality, respect, and mutual benefit [1]

中新网北京10月15日电 (记者 黄钰钦)中国外交部发言人林剑15日主持例行记者会。 特朗普称正考虑停止从中国进口食用油 中方回应 本文为转载内容，授权事宜请联系原著作权人 中新经纬版权所有，未经书面授权，任何单位及个人不得转载、摘编或以其它方式使用。 关注中新经纬微信公众号(微信搜索"中新经纬"或"jwview")，看更多精彩财经资讯。 有记者提问：美国总统特朗普指责中国停止进口美国大豆，并表示正考虑停止从中国进口食用油作为报 复。中方对此有何评论？ 编辑：万可义 广告等商务合作，请点击这里 林剑：中方在处理中美经贸问题上的立场是一贯的、明确的。贸易战、关税战没有赢家，不符合任何一 方利益，双方应在平等、尊重、互惠基础上协商解决有关问题。(完) 来源：中国新闻网 ...

Core Viewpoint - The trade war and tariff conflict have no winners and do not serve the interests of either party [1][2]. Group 1: Trade Relations - The Chinese government maintains a consistent and clear stance on handling Sino-U.S. economic and trade issues [2]. - Both parties should negotiate to resolve relevant issues based on equality, respect, and mutual benefit [2].

Core Points - The talks between China and the United States regarding economic and trade issues continued for a second day in Madrid, Spain on September 15 [2] Group 1 - The meeting signifies ongoing diplomatic efforts to address economic and trade relations between the two countries [2]

Group 1 - The core viewpoint of the article is that the Chinese government maintains a consistent and clear stance on U.S.-China economic and trade issues, as indicated by the spokesperson's response to a question regarding President Trump's comments on increasing soybean orders from China [1][3] Group 2 - The Chinese spokesperson suggested that specific inquiries regarding trade issues should be directed to the relevant authorities, indicating a formal approach to trade discussions [1] - The mention of increasing soybean orders by three times is presented as a potential method to significantly reduce the U.S.-China trade deficit, highlighting the ongoing trade dynamics between the two countries [1]

Group 1 - The core point of the article is the extension of the "truce period" for tariffs between the US and China by 90 days, as stated by US President Trump, who emphasizes the importance of dialogue to address trade imbalances and national economic security issues [1] - Trump highlighted his good relationship with Chinese leaders and indicated a wait-and-see approach regarding future developments in US-China relations [1] - The Chinese Ministry of Commerce has released information regarding the US-China Stockholm economic and trade talks, but specific details were not provided in the response [1]