This report is provided by MacroTerms.com
Data as of: 2026-09-30 · Settlement: Exchange settlement (15:00 Beijing close, vs prior settlement)
沪锌(SHFE.ZN)深度分析报告 | 偏空:国际与中国市场深度贴水与减仓下跌 | 2026-10-08
当前沪锌(SHFE.ZN)主连合约(M2611)方向明确偏空。核心逻辑在于:价格跌破关键支撑位且处于五年同期库存高位,叠加主力合约大幅减仓下跌,显示多头主动离场。技术面上,夜盘收阴且价格位于枢轴S1下方,短期动能转弱。基本面方面,LME库存持续累积,SHFE仓单小幅下降但不足以扭转供需格局,国际与中国市场溢价为负值,进口窗口关闭。综合来看,上方26550-26660区间构成强阻力,下方支撑看至26040一线。
This brief is published in Chinese. The English translation is being prepared.
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