国内白糖工业库存 巴西糖配额外进口利润 投资咨询业务资格:证监会许可【2012】31号 ITG国贸期货 白糖数据日报 | 1 | | | 农产品中心 | 期货从业资格证号 | | 投资咨询证号 | 2025/8/12 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 谢威 | F03087820 | | Z0019508 | | | 团白 | | 地区 | 2025/8/11 | 涨跌值 | 升贴水 | 与2509基差 | 涨跌值 | | / 报 糖 | 广西 | 南宁仓库 | 6010 | 0 | 0 | 332 | 2 | | 吨价现 | | 昆明 | 5825 | 0 | -100 | 247 | 2 | | いで賞 | 云南 | 大理 | 5700 | 0 | -140 | 162 | 2 | | 元集 | 山东 | 日照 | 6090 | 0 | 100 | 312 | 2 | | 数 盘 | | SR09 | 5678 | -2 | | | | | 据 面 | | | | | SR09-01 | 105 | -2 | | | | ...

1. Report Information - Report Name: Zinc Futures Daily Report [1] - Date: August 12, 2025 [2] - Researcher: Zhang Ping, Peng Jinglin, Yu Feifei [3][4] 2. Market Review - **Futures Market Quotes**: The Shanghai zinc futures market showed a pattern of reduced positions and rising prices. The main contract closed at 22,590 yuan/ton, up 85 yuan or 0.38%. The net long positions of the top 20 seats decreased by 195 lots, and the 08 - 09 spread widened to 30. The domestic zinc concentrate processing fee in August remained stable at 3,900 yuan/metal ton, while the imported zinc concentrate price increased by 3.5 dollars/dry ton to 82.25 dollars/dry ton. The inventory in the domestic zinc market continued to accumulate, reaching 119,000 tons on Monday. The LME zinc inventory decreased by 1,075 tons to 80,425 tons, with the problem of low inventory and high cancellation ratio still existing. The import window remained closed. The rising price of the futures market put pressure on the purchasing sentiment, and the premium continued to decline. The Shanghai market had a discount of 10 yuan/ton to the 09 contract, the Tianjin market had a discount of 10 yuan/ton to the Shanghai market, and the Guangdong market had a discount of 65 yuan/ton to the 09 contract and 20 yuan/ton to the Shanghai spot, with the spread between Shanghai and Guangdong narrowing. The Shanghai zinc futures price stood above the middle track of the Bollinger Bands, but there were signs of a decline on the hourly chart, and the risk of a decline from the high level increased due to the weak fundamentals [7]. 3. Industry News - **Price and Premium in Different Regions**: On August 11, 2025, the mainstream transaction prices of 0 zinc in different regions were as follows: in the Shanghai market, the mainstream transaction price of 0 zinc was 22,515 - 22,635 yuan/ton, and that of Shuangyan brand was 22,625 - 22,775 yuan/ton; in the Ningbo market, the mainstream transaction price of 0 zinc was 22,495 - 22,605 yuan/ton; in the Tianjin market, the mainstream transaction price of 0 zinc was 22,470 - 22,640 yuan/ton; in the Guangdong market, the mainstream transaction price of 0 zinc was 22,440 - 22,610 yuan/ton. The premiums and discounts of different brands to the 2509 contract also varied in different regions [8][9]. 4. Data Overview - **Graphs**: The report includes graphs such as the weekly inventory of SMM seven - region zinc ingots, LME zinc inventory, the price trends of zinc in two markets, and the SHFE monthly spread, with data sources from SMM, Wind, and the research and development department of CCB Futures [11][15]