【矿端偏紧格局或延续至明年上半年，锌四季度基本面题材仍可期】金十期货10月24日讯，近期国内外再传减产消息，锌矿供应收紧预期再起，艾芬豪矿业下调2024年锌矿产量指引，主因在于刚果（金）的Kipushi矿山因运营中断而无法维持每日产量，全年生产精矿含锌的指导目标已从10万-14万吨下调至5万-7万吨。四季度冬储加剧炼厂对于矿端资源争夺，精炼锌产量维持低位。海外欧洲炼厂利润倒挂，供应压力边际减弱，现货溢价走高反映市场对于精炼锌供应偏紧的紧张情绪。从最新的持仓报告来看，近月多头持仓下降，多头持仓部分转移至12月和1月合约，近月挤仓风险回落，短期仍需关注资金博弈风险。临近长单谈判，当前TC费用有所回升但并未确立反弹趋势，矿端偏紧格局或延续至明年上半年，原料偏紧及炼厂冬储约束精炼锌供应，四季度基本面题材仍可期。
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