Group 1 - The core viewpoint of the article highlights the growth in China's zinc production, with a reported output of 651,000 tons in August 2025, representing a year-on-year increase of 22.8% [1] - From January to August 2025, China's cumulative zinc production reached 4.836 million tons, showing a cumulative growth of 5.4% [1] Group 2 - The article references several listed companies in the zinc industry, including Zhongjin Lingnan (000060), Chihong Zn & Ge (600497), Luoping Zinc Electric (002114), Zhuhai Group (600961), Zinc Industry Co. (000751), Hongda Co. (600331), Guocheng Mining (000688), Huayu Mining (601020), and China Nonferrous Mining (000758) [1] - The report by Zhiyan Consulting discusses investment strategies and market size forecasts for the electrolytic zinc industry in China from 2025 to 2031 [1]

Group 1: Report Information - Report Title: Zinc Futures Daily Report [1] - Date: September 18, 2025 [2] - Research Team: Nonferrous Metals Research Team [4] - Researchers: Zhang Ping, Peng Jinglin, Yu Feifei [3][4] Group 2: Market Review - Futures Market Performance: Shanghai zinc futures showed narrow - range fluctuations. ZN2510 closed at 22,280 yuan/ton, down 20 yuan or 0.09%, with reduced volume and positions. The 10 - 11 spread was - 5. The domestic processing fee had limited upward momentum, with some local quotes slightly falling. SMM domestic monthly TC for zinc concentrate was 3,850 yuan/metal ton, and the SMM imported zinc concentrate index rose 2.5 dollars/dry ton to 96.25 dollars/dry ton. By - product sulfuric acid prices dropped due to supply recovery. Despite a contraction in comprehensive profit, it remained at a relatively high level. September saw more smelter overhauls and some secondary zinc enterprises faced raw material price hikes and tight supply, with expected monthly output down 1 - 2 tons to around 600,000 tons. Supply remained generally loose. After the parade, logistics and production restrictions in North and Central China were lifted, leading to a month - on - month increase in the primary consumption sector's开工. However, the improvement in consumption was slowly transmitted upstream, and social inventories continued to accumulate, though at a slower pace. There was a divergence between the strong overseas and weak domestic markets, with concerns about overseas refined zinc supply causing a spot premium (0 - 3B41.33). Given the weak fundamentals of Shanghai zinc and no sign of a de - stocking inflection point, the market maintained a range - bound pattern. The market generally expected a 25 - basis - point interest rate cut to be announced early Thursday, and attention was on Powell's speech for guidance on the path of interest rate cuts for the year [7] Group 3: Industry News - Zinc Price and Transaction Information: On September 17, 2025, the mainstream transaction price of 0 zinc was 22,175 - 22,280 yuan/ton, double - swallow brand was 22,285 - 22,400 yuan/ton, and 1 zinc was 22,105 - 22,210 yuan/ton. In the morning, the market quoted a premium of 30 - 40 yuan/ton to the SMM average price. In the second trading session, ordinary domestic zinc was quoted at a discount of 20 yuan/ton to the 2510 contract, Honglu - v at a 20 - yuan/ton discount, Huize at a 50 - 60 - yuan/ton premium, and high - end brand Double - swallow at a 90 - 100 - yuan/ton premium. In different regions, the prices and quotes relative to the contracts varied. For example, in Ningbo, the mainstream brand 0 zinc was traded at 22,175 - 22,260 yuan/ton, with quotes at a discount to the 2510 contract; in Tianjin, 0 zinc was at 22,110 - 22,270 yuan/ton, with various discounts to the 2510 contract; in Guangdong, 0 zinc was at 22,090 - 22,230 yuan/ton, with quotes at a discount to the 2511 contract and a discount to Shanghai spot prices, and the Shanghai - Guangdong price spread widened [8][9] Group 4: Data Overview - Data Sources: Wind and Jianxin Futures Research and Development Department provided data on the two - market zinc price trends, SHFE monthly spreads, SMM seven - region zinc ingot weekly inventory, and LME zinc inventory [7][10][11]

Group 1 - The core viewpoint of the news highlights the projected growth and current production trends in China's zinc industry, with a specific focus on the anticipated increase in zinc production by 5.4% in June 2025 compared to the previous year [1] - According to the National Bureau of Statistics, China's zinc production in June 2025 is expected to reach 628,000 tons, while the cumulative production for the first half of 2025 is reported at 3.545 million tons, reflecting a slight decline of 0.8% [1] - The report from Zhiyan Consulting outlines investment strategies and market size forecasts for the electrolytic zinc industry in China from 2025 to 2031, indicating a growing interest in this sector [1] Group 2 - Listed companies in the zinc industry include Zhongjin Lingnan (000060), Chihong Zn & Ge (600497), Luoping Zinc Electric (002114), Zhuhai Group (600961), Zinc Industry Co. (000751), Hongda Co. (600331), Guocheng Mining (000688), Huayu Mining (601020), and China Nonferrous Metal Industry (000758) [1] - Zhiyan Consulting is recognized as a leading industrial consulting firm in China, specializing in comprehensive industry research reports, business plans, feasibility studies, and customized services [2] - Data sources for the report include the National Bureau of Statistics and Zhiyan Consulting's own analysis [3]