20251212-建信期货-锌期货日报_4页_760kb

Zinc Futures Daily Report Summary (2025-12-12)

• Market Overview: Zinc futures prices declined across contracts as macroeconomic factors, such as the fading effects of美联储降息25个基点, weakened the market's bullish sentiment. Key contracts, like SHFE沪锌2601 and 2602, ended down by 0.30% each.持仓量changed, with net short positions increasing in some contracts, reflecting reduced bullish sentiment.

• Price Analysis: SHFE沪锌2512 closed at 22970元/吨, down 0.26%; SHFE沪锌2601 at 22995元/吨, down 0.30%; SHFE沪锌2602 at 23000元/吨, down 0.30%.基本面support from unexpected炼厂减产 helped, but demand remained weak in the off-season.

• Industry Updates: Spot zinc prices showed regional variations, with成交 prices ranging from 23010 to 23405元/吨, and spreads to futures contracts indicating mixed market conditions, including instances of contango and backwardation.

• Data Highlights: Graphical data from Wind and SMM shows zinc price trends,月间差, inventory levels, and LME zinc stocks, confirming market divergence and inventory movements that influence supply-demand balance.