Group 1 - 株冶集团 (600961) experienced a trading halt today with a daily turnover rate of 6.85% and a transaction amount of 569 million yuan, showing a fluctuation of 8.78% [2] - The stock was listed on the Shanghai Stock Exchange due to a daily price deviation of 10.75%, with institutional investors net selling 5.82 million yuan and the Shanghai-Hong Kong Stock Connect net selling 619,400 yuan [2] - The top five trading departments accounted for a total transaction amount of 201 million yuan, with a net buying amount of 12.08 million yuan [2] Group 2 - As of June 26, the margin trading balance for the stock was 218 million yuan, with a financing balance of 218 million yuan and a securities lending balance of 238,800 yuan [3] - Over the past five days, the financing balance increased by 14.99 million yuan, representing a growth of 7.39%, while the securities lending balance decreased by 28,140 yuan, a decline of 54.09% [3] - The company's Q1 report indicated a revenue of 4.803 billion yuan, a year-on-year increase of 8.50%, and a net profit of 277 million yuan, a year-on-year increase of 74.07% [3]

铅周报 2025 年 6 月 23 日 利好边际增加 关注整数突破 核心观点及策略 投资咨询业务资格 沪证监许可【2015】84 号 李婷 021-68555105 li.t@jyqh.com.cn 从业资格号：F0297587 投资咨询号：Z0011509 黄蕾 huang.lei@jyqh.com.cn 从业资格号：F0307990 投资咨询号：Z0011692 高慧 gao.h@jyqh.com.cn 从业资格号：F03099478 投资咨询号：Z0017785 王工建 wang.gj@jyqh.com.cn 从业资格号：F3084165 投资咨询号：Z0016301 赵凯熙 zhao.kxj@jyqh.com.cn 从业资格 号：F03112296 投资咨询号：Z0021040 敬请参阅最后一页免责声明 1/8 一、 要点 要点 上周沪铅主力期价窄幅震荡。宏观面看，美联储不急 于降息，预计今年降息 2 次，下调明年降息次数为 1 次，美元坚挺，同时美国下场，以伊冲突升级提升避 险需求，风险资产承压。 要点 基本面看，5 月铅精矿及银精矿进口量基本符合预期， 原料维持偏紧，加工费微降。赤峰山金银铅、郴州 ...

祁玉蓉（F03100031, Z0021060），联系电话：010-8229 5006 | 2025/6/20 指标 单位 今值 | | | | | | 变动 近期趋势 | | --- | --- | --- | --- | --- | --- | --- | | SMM1#铅锭平均价格 元/吨 16,775.00 | | | | | | 0.45% | | 期货主力合约收盘价 元/吨 16,925.00 | 沪铅期现价格 | | | | | 0.68% | | 元/吨 沪铅基差 -150.00 | | | | | | -40.00 | | 升贴水-上海 元/吨 -25.00 | | | | | | 5.00 | | -31.21 升贴水-LME 0-3 美元/吨 | | | | | | 0.11 | | 升贴水-LME 3-15 美元/吨 -60.20 元/吨 -10.00 沪铅近月-沪铅连一 | 价差 | | | | | 0.70 - | | 沪铅连一-沪铅连二 元/吨 -10.00 | | | | | | -10.00 | | 铅 元/吨 -10.00 | | | | | | -20.00 | | 沪铅 ...

供应端矛盾支撑 铅价反弹驱动不足 核心观点及策略 投资咨询业务资格 沪证监许可【2015】84 号 李婷 021-68555105 li.t@jyqh.com.cn 从业资格号：F0297587 投资咨询号：Z0011509 黄蕾 huang.lei@jyqh.com.cn 从业资格号：F0307990 投资咨询号：Z0011692 高慧 铅周报 2025 年 6 月 16 日 gao.h@jyqh.com.cn 从业资格号：F03099478 投资咨询号：Z0017785 王工建 wang.gj@jyqh.com.cn 从业资格号：F3084165 投资咨询号：Z0016301 赵凯熙 zhao.kxj@jyqh.com.cn 从业资格号：F03112296 投资咨询号：Z0021040 敬请参阅最后一页免责声明 1/7 一、 一、交易数据 | | | 上周市场重要数据 | | | | --- | --- | --- | --- | --- | | 合约 | 6 月 6 日 | 6 月 13 日 | 涨跌 | 单位 | | SHFE 铅 | 16780 | 16945 | 165 | 元/吨 | | LME ...

2025/6/16 单位 今值 变动 近期趋势 SMM1#铅锭平均价格 元/吨 16,775.00 0.45% 期货主力合约收盘价 元/吨 16,945.00 0.33% 沪铅基差 元/吨 -170.00 20.00 升贴水-上海 元/吨 -35.00 -10.00 升贴水-LME 0-3 美元/吨 -25.93 1.74 升贴水-LME 3-15 美元/吨 -65.00 1.30 沪铅近月-沪铅连一 元/吨 -35.00 -25.00 沪铅连一-沪铅连二 元/吨 5.00 20.00 沪铅连二-沪铅连三 元/吨 25.00 10.00 期货活跃合约成交量 手 32,714.00 10.74% 期货活跃合约持仓量 手 43,604.00 -1.77% 成交持仓比 / 0.75 12.74% LME库存 吨 0.00% 264,975.00 沪铅仓单库存 吨 44,229.00 1.14% LME3个月铅期货收盘价（电子盘） 美元/吨 1,992.50 0.03% 沪伦铅价比值 / 8.50 0.30% SMM1#锌锭平均价格 元/吨 22,170.00 -0.31% 期货主力合约收盘价 元/吨 21,815. ...

风险提示：期市有风险，投资需谨慎！ | | | | 铅锌日评20250613：沪铅下方支撑较强；沪锌反弹空间有限 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2025/6/13 | | 指标 单位 | 今值 | | 变动 近期趋势 | | | | | | | SMM1#铅锭平均价格 元/吨 16,700.00 | | | 0.45% | | | | | | | 沪铅期现价格 期货主力合约收盘价 元/吨 16,890.00 | | | 0.27% | | | | | | | 沪铅基差 元/吨 -190.00 升贴水-上海 元/吨 -25.00 | | | 30.00 - | | | | | | | 升贴水-LME 0-3 美元/吨 -27.67 | | | 0.98 | | | | | | 价差 | 升贴水-LME 3-15 美元/吨 -66.30 | | | -0.20 | | | | | | | 沪铅近月-沪铅连一 元/吨 -10.00 | | | 15.00 | | | | | 铅 | | 沪铅连一-沪铅连二 ...

祁玉蓉（F03100031, Z0021060），联系电话：010-8229 5006 2025/6/9 单位 今值 变动 近期趋势 SMM1#铅锭平均价格 元/吨 0.00% 16,500.00 期货主力合约收盘价 元/吨 16,780.00 0.51% 沪铅基差 元/吨 -280.00 -85.00 升贴水-上海 元/吨 - -15.00 升贴水-LME 0-3 美元/吨 -26.98 -3.90 升贴水-LME 3-15 美元/吨 -64.60 -2.20 沪铅近月-沪铅连一 元/吨 -45.00 -30.00 沪铅连一-沪铅连二 元/吨 5.00 5.00 沪铅连二-沪铅连三 元/吨 10.00 -10.00 期货活跃合约成交量 手 30,853.00 -0.20% 期货活跃合约持仓量 手 49,975.00 -1.01% 成交持仓比 / 0.62 0.82% LME库存 吨 0.00% 281,275.00 沪铅仓单库存 吨 41,799.00 0.24% LME3个月铅期货收盘价（电子盘） 美元/吨 1,974.00 -0.35% 沪伦铅价比值 / 8.50 0.87% SMM1#锌锭平均价格 元 ...

铅锌产业链周度报告 范玲 期货从业资格号：F0272984 投资咨询资格号：Z0011970 中航期货 2025-6-6 | 目 | 录 | | | | | --- | --- | --- | --- | --- | | 0 0 1 1 | 报 报 | 告 告 | 摘 摘 | 要 要 | | 0 0 2 2 | 多 多 | 空 空 | 焦 焦 | 点 点 | | 0 0 3 3 | 数 数 | 据 据 | 分 分 | 析 析 | | 4 4 0 0 | 后 后 | 市 市 | 研 研 | 判 判 | | 告 | 摘 | 报 | 要 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- ...

Core Viewpoint - The company has completed the construction of a resource comprehensive utilization project that enhances its green and low-carbon transformation while achieving comprehensive recovery of valuable metals such as silver, indium, lead, and zinc [1][2]. Group 1: Project Overview - The resource comprehensive utilization project utilizes a "hot acid leaching - low pollution iron removal - three-stage antimony salt purification" wet zinc smelting process, with an annual production capacity of 210,000 tons of zinc products and 400,000 tons of sulfuric acid [1]. - The project generates approximately 225,000 tons of leaching residue (wet basis) annually, which necessitated the establishment of a harmless treatment system for leaching residue to comply with industry standards [1]. Group 2: Environmental and Economic Impact - The project significantly reduces industrial hazardous waste emissions, reflecting the company's commitment to accelerating its green transformation [2]. - The company's total investment in energy conservation and environmental protection is projected to increase from 88 million to 541 million yuan from 2022 to 2024, indicating a strong focus on high-quality environmental initiatives [2]. Group 3: Compliance and Sustainability Efforts - In response to increasingly stringent environmental policies, the company is enhancing its environmental management system, promoting green mining, and ensuring compliance with pollution discharge standards [2]. - The company has seen a significant reduction in greenhouse gas emissions over the past three years, with total emissions of 778,100 tons, 745,300 tons, and 722,600 tons of CO2 equivalent, respectively, demonstrating a substantial downward trend [2]. Group 4: Corporate Responsibility - The company is committed to fulfilling its ESG responsibilities by balancing economic growth with environmental sustainability, focusing on efficient resource utilization and ecosystem restoration [3].

据了解，华南某地区铅锌冶炼厂本周因故临时检修，贵稀车间受此影响出现减产，具体恢复时间待定。 5月23日沪铅期货库存录得48428.00吨，较上一交易日减少7044.00吨。 分析观点： 新湖期货研报：供应方面，近期原生铅炼厂生产整体稳定，开工持稳高位，而铅矿TC出现下行趋势； 再生方面，此前再生铅炼厂亏损持续，开工率连续三周维持历史同期低位，随着废电瓶价格回落，利润 预计修复。需求端，铅蓄电池传统消费淡季，经销商库存持续偏高，铅蓄电池企业以销定产为主。截止 本周一国内社库4.34吨，去库0.69万吨，下游偏向仓单货源，有集中出库。另外，上周LME铅库存再度 连续大幅交仓5万吨，创近10年高位。整体上，下游淡季加上废电瓶价格支撑减弱，预计短期铅价重心 或有下移。 规格 品牌/产 地 报价 报价类型 交货地 交易商 品名:1#铅锭 ;牌号:Pb99.994 ; 上海华通 16725元/ 吨 市场价 上海 上海华通有色金属现货市场 品名:1#铅锭 ;牌号:Pb99.994 ; 广东南储 16700元/ 吨 市场价 广东省 广东南储有色现货市场 品名:1#铅锭 ;牌号:Pb99.994 ; 上海有色 16650元/ ...