基础金属	铜电解铜铜精矿铜管铜棒废铜铜排铜合金精铜杆再生铜杆铜板带铝铝土矿氧化铝电解铝铝辅料铝棒铝合金锭废铝铝杆铝型材铝板卷铅铅精矿铅锭铅蓄电池再生精铅还原铅废铅蓄电池铅合金锌锌精矿电解锌锌合金氧化锌锌粉锡锡精矿锡锭锡材镁
稀有金属	稀土稀土矿稀土氧化物稀土金属钕铁硼稀散金属锑铋铟锗镓硒钽锆贵金属白银钨钨精矿 APT(仲钨酸铵)钨粉碳化钨钨酸钠钨条钨铁钨材钼钼精矿工业氧化钼钼铁钼化工高纯三氧化钼钼金属钛钛精矿钛渣四氯化钛海绵钛钛金属钛白粉硒
新能源	锂锂矿锂化合物金属锂镍镍矿镍铁精炼镍镍盐高冰镍 MHP 钴电解钴钴粉氯化钴四氧化三钴硫酸钴钴中间品氧化钴碳酸钴钴酸锂锰锰矿电解锰电池级硫酸锰锂电正负极三元前驱体磷酸铁正极材料石油焦针状焦包覆沥青人造石墨硅碳负极硅氧负极硅

2024 年中国锌锭市场半年报

2025-01-14 11:10:49 来源：北方有色网责任编辑：管理员

分享到：

打印

复制链接

一、上半年中国精炼锌价格走势剖析

2024 年上半年，中国精炼锌价格轨迹起伏。年初，受春节假期临近影响，下游需求收缩，冶炼厂正常生产下供需失衡，锌价震荡下行。步入 2 月下旬，形势逆转，锌价开启上扬通道，5 月末攀至年内峰值，5 月 30 日，全国 0# 锌锭价格触及 25154 元 / 吨。此轮涨势，根源在于供应端锌矿紧张，冶炼厂减产预期发酵，同时资金多头踊跃、美联储降息预期升温、国内利好政策频出，多因素共振推高锌价。然而，6 月风云突变，需求疲弱难撑高价，宏观环境不佳，锌价回调，至 6 月 27 日，全国 0# 锌锭价格滑落至 24192 元 / 吨。

区域市场均价亦有表现，据相关数据：上海市场均价 22181 元 / 吨，环比涨 4.82%，同比升 0.18%；天津市场均价 22207 元 / 吨，环比增 4.90%，同比涨 0.47%；佛山市场均价 22177 元 / 吨，环比上扬 5.12%，同比升 0.28%。

二、上半年中国精炼锌升贴水态势洞察

相关数据揭示，2024 年上半年，上海市场升贴水峰值 300 元 / 吨，较 2023 年下半年的 420 元 / 吨环比下滑 28.57%，较 2023 年上半年的 470 元 / 吨同比降低 36.17%；天津市场升贴水峰值 150 元 / 吨，对比 2023 年下半年 530 元 / 吨环比锐减 71.70%，相较于 2023 年上半年 305 元 / 吨同比下降 50.82%；佛山市场升贴水峰值 265 元 / 吨，相较 2023 年老鸭头，且库存下行拐点迟至 5 月才现，滞后正常年份 2 个月。期货市场锌库存亦不容小觑，截止 6 月 26 日达 24 万吨，去年同期仅 7.9 万吨，且去化缓慢。高库存映射需求疲态，升贴水佐证无疑。2 月底后，三地锌锭现货多贴水，6 月价格下行方使贴水收窄，佛山甚至现升水。佛山因库存低位，锌价受情绪左右，升水波动剧烈。

三、中国精炼锌原料全景解读

2024 上半年，锌精矿供应紧张成常态，加工费下行。北方地区加工费降至 2300 - 2500 元 / 金属吨，南方地区滑落至 1900 - 2100 元 / 金属吨，且短期内难缓解，加工费料将低位徘徊。进口 TC 年初以来持续探底，当前已至 10 - 20 美元 / 干吨，部分报价负数，国内冶炼厂承压。

锌精矿供需失衡，市场货源紧俏。1 - 5 月，统计 130 家样本企业产量 123.6 万吨，同比缩量 3 万吨，跌幅 2.33%。下半年，国内新投矿山爬坡、复产矿山发力，四季度供应或微增。

进口矿方面，上半年多依赖长单。1 - 5 月累计进口量 144.56 万吨，同比下滑 23.41%。6 月虽因比值优化进口窗开启，有少量成交，但船期掣肘，难补国内缺口，供应紧张格局难破。后续进口矿到货动态，关乎市场走向。

三季度消费淡季，部分炼厂检修，采购热情不减。矿山新增产能存变数，预计原料市场供应紧张延续，加工费低位维稳。

四、中国精炼锌生产动态追踪

相关数据显示，2024 年 1 - 5 月中国精炼锌产量 306.7 万吨，同比增长 5.72%。53 家锌冶炼厂产量数据表明，2024 年上半年锌锭产量 284.22 万吨，较 2023 年下半年 292.75 万吨环比下滑 2.91%，与 2023 年上半年 284.301 万吨基本持平，同比微降 0.03%。预计 7 月起，部分冶炼厂检修减产，供应趋紧。

五、中国精炼锌进口形势研判

海关总署数据表明，2024 年 1 - 5 月中国精炼锌进口量 18.71 万吨，同比飙升 253.42%，相较 2021 年亦增长 301.19%，上半年呈前低后高态势。成因如下：

国内锌精矿开采减量、炼厂检修停产频现，供应短缺催生进口需求；

利好政策落地、制造业 PMI 上扬，国内经济向好，企业扩产拉动精炼锌需求，驱动进口；

一季度国内锌价低位，进口少；二季度锌价飞涨，国际价差诱人，进口商逐利，进口激增。

展望下半年，若国内矿场复产提速，供应自给增强，进口或受抑制；反之，若需求增速超供应恢复，进口将增。国际锌市供需、价格波动亦影响进口决策。若国际锌价亲民，进口成本可控，进口需求或升；若高价当道，国内供应优先，进口下滑。若国内经济强劲、下游产业扩张，进口量有望水涨船高。综合预计，下半年精炼锌进口量较上半年小幅攀升。

六、中国精炼锌社会及保税库存扫描

相关统计显示，2024 年锌锭社会库存低位运行，截止 6 月 29 日为 17.26 万吨。峰值出现在 4 月，达 21.09 万吨，较 2023 年 3 月初峰值 17.66 万吨同比增长 19.42%。年初起，库存累库至 4 月底，锌价暴跌引发下游补库，社库回落，后锌价反弹，去库放缓。消费端疲软，上半年锌锭供应前期偏强、后期转弱。

七、下半年中国精炼锌前景展望

短期内，锌矿供应紧、加工费低位、社会库存下行态势难改，锌价下行空间受限。预计下半年锌价震荡偏强，上涨动力聚焦两处：一是三季度冶炼厂检修，关乎矿端 - 冶炼平衡。若减产落地，冶炼端将为后续价格上扬蓄力，四季度全球锌矿供应或边际改善，加工费有望迎来拐点；二是消费复苏成色。特别国债护航基建，下半年新增专项债加速发行，实物量落地支撑锌需求。以旧换新、强劲出口利好下，三季度汽车、家电产业有望蓬勃，然四季度美国补库、大选关税变数，出口回落风险需盯防。总体而言，2024 年锌锭供应或小幅过剩，在冶炼厂减产与需求恢复双重作用下，下半年社库将逐步消耗。

免责声明
北方有色网提供的信息仅供参考，不作为决策建议，客户需自主判断决策，并自行承担相关后果。本报告版权归北方有色网所有，仅限客户自身使用。如需引用，须联系申请授权；未经书面许可，任何机构或个人不得以任何形式传播、发布、篡改本报告。北方有色网保留追究任何侵权行为法律责任的权利。

日报

更多+

▪2025年12月18日钴市场日报[12-18]

▪2025年12月18日钛市场日报[12-18]

▪2025年12月18日稀土市场日报[12-18]

▪2025年12月18日锌市场日报[12-18]

▪2025年12月18日电解铝市场日报[12-18]

周报

更多+

▪《锆市场周报》第50周（12.8-12.12）[12-16]

▪《铜市场周报》第50周（12.8-12.12）[12-15]

▪《电解铝周报》第50周（12.8-12.12)[12-15]

▪《铅锌周报》第50周（12.8-12.12)[12-15]

▪《钛市场周报》第50周（12.8-12.12）[12-15]

主编视角

更多+

▪主编视角：稀土元素——半导体行业进步的多重推进器[11-21]

▪主编视角：钼金属——半导体微型化的新引擎[11-21]

▪刚果（金）“掐住”钴咽喉，中国新能源如何破局？[11-20]

▪印尼按下“暂停键”，全球镍产业迎来大变局？[11-20]

▪Empire Metals公司在吉隆坡TZMI大会展示Pitfield钛项目，揭示全球钛产业新焦点[11-14]

热点

更多+

▪投资5亿！武汉6万吨铁锂电池回收项目投产，干法技术领跑行业[12-18]

▪2025光伏行业盈利改善亏损持续收窄[12-18]

▪封关启幕：金融“活水”筑牢海南自贸港开放基石[12-18]

▪印尼拟大幅下调2026年镍矿产量目标[12-18]

▪深圳27人走私管制金属锑锭166余吨出境主犯被判12年[12-18]

基本文件流程错误 SQL 调试

/websites/wwwroot/cmcc/public/index.php ( 0.75 KB )
/websites/wwwroot/cmcc/thinkphp/start.php ( 0.72 KB )
/websites/wwwroot/cmcc/thinkphp/base.php ( 2.60 KB )
/websites/wwwroot/cmcc/thinkphp/library/think/Loader.php ( 21.07 KB )
/websites/wwwroot/cmcc/vendor/composer/autoload_static.php ( 3.95 KB )
/websites/wwwroot/cmcc/vendor/symfony/polyfill-mbstring/bootstrap.php ( 8.26 KB )
/websites/wwwroot/cmcc/vendor/ezyang/htmlpurifier/library/HTMLPurifier.composer.php ( 0.10 KB )
/websites/wwwroot/cmcc/vendor/topthink/think-captcha/src/helper.php ( 1.94 KB )
/websites/wwwroot/cmcc/thinkphp/library/think/Route.php ( 60.23 KB )
/websites/wwwroot/cmcc/thinkphp/library/think/Config.php ( 6.38 KB )
/websites/wwwroot/cmcc/thinkphp/library/think/Validate.php ( 41.63 KB )
/websites/wwwroot/cmcc/thinkphp/library/think/Error.php ( 3.75 KB )
/websites/wwwroot/cmcc/thinkphp/convention.php ( 10.37 KB )
/websites/wwwroot/cmcc/thinkphp/library/think/App.php ( 21.51 KB )
/websites/wwwroot/cmcc/thinkphp/library/think/Request.php ( 49.78 KB )
/websites/wwwroot/cmcc/application/config.php ( 10.17 KB )
/websites/wwwroot/cmcc/application/database.php ( 1.96 KB )
/websites/wwwroot/cmcc/thinkphp/library/think/Hook.php ( 4.71 KB )
/websites/wwwroot/cmcc/application/tags.php ( 0.96 KB )
/websites/wwwroot/cmcc/application/common.php ( 37.25 KB )
/websites/wwwroot/cmcc/thinkphp/library/think/Env.php ( 1.21 KB )
/websites/wwwroot/cmcc/thinkphp/helper.php ( 17.30 KB )
/websites/wwwroot/cmcc/thinkphp/library/think/Lang.php ( 7.41 KB )
/websites/wwwroot/cmcc/thinkphp/library/think/Log.php ( 6.05 KB )
/websites/wwwroot/cmcc/thinkphp/lang/zh-cn.php ( 11.81 KB )
/websites/wwwroot/cmcc/application/route.php ( 4.08 KB )
/websites/wwwroot/cmcc/application/index/controller/News.php ( 30.40 KB )
/websites/wwwroot/cmcc/application/index/controller/Base.php ( 3.86 KB )
/websites/wwwroot/cmcc/thinkphp/library/think/Controller.php ( 6.07 KB )
/websites/wwwroot/cmcc/thinkphp/library/traits/controller/Jump.php ( 4.90 KB )
/websites/wwwroot/cmcc/thinkphp/library/think/View.php ( 6.77 KB )
/websites/wwwroot/cmcc/thinkphp/library/think/view/driver/Think.php ( 5.64 KB )
/websites/wwwroot/cmcc/thinkphp/library/think/Template.php ( 44.90 KB )
/websites/wwwroot/cmcc/thinkphp/library/think/template/driver/File.php ( 2.24 KB )
/websites/wwwroot/cmcc/application/common/library/RedisUtil.php ( 0.83 KB )
/websites/wwwroot/cmcc/thinkphp/library/think/Cache.php ( 6.10 KB )
/websites/wwwroot/cmcc/thinkphp/library/think/cache/driver/Redis.php ( 5.37 KB )
/websites/wwwroot/cmcc/thinkphp/library/think/cache/Driver.php ( 5.98 KB )
/websites/wwwroot/cmcc/application/admin/model/Para.php ( 0.09 KB )
/websites/wwwroot/cmcc/thinkphp/library/think/Model.php ( 69.14 KB )
/websites/wwwroot/cmcc/thinkphp/library/think/Db.php ( 6.67 KB )
/websites/wwwroot/cmcc/thinkphp/library/think/db/connector/Mysql.php ( 3.89 KB )
/websites/wwwroot/cmcc/thinkphp/library/think/db/Connection.php ( 29.97 KB )
/websites/wwwroot/cmcc/thinkphp/library/think/db/Query.php ( 96.74 KB )
/websites/wwwroot/cmcc/thinkphp/library/think/db/builder/Mysql.php ( 4.53 KB )
/websites/wwwroot/cmcc/thinkphp/library/think/db/Builder.php ( 31.55 KB )
/websites/wwwroot/cmcc/thinkphp/library/think/Debug.php ( 7.13 KB )
/websites/wwwroot/cmcc/application/admin/model/News.php ( 3.74 KB )
/websites/wwwroot/cmcc/application/admin/model/Cate.php ( 0.59 KB )
/websites/wwwroot/cmcc/application/admin/model/Admin.php ( 0.09 KB )
/websites/wwwroot/cmcc/application/common/consts/NewsConst.php ( 0.28 KB )
/websites/wwwroot/cmcc/application/admin/model/IndexCate.php ( 0.45 KB )
/websites/wwwroot/cmcc/application/common/consts/CommonConst.php ( 0.71 KB )
/websites/wwwroot/cmcc/runtime/temp/ae754a079b49dad486f0fa457bc10d5b.php ( 139.96 KB )
/websites/wwwroot/cmcc/application/common/consts/CacheConst.php ( 0.26 KB )
/websites/wwwroot/cmcc/thinkphp/library/think/Url.php ( 12.72 KB )
/websites/wwwroot/cmcc/thinkphp/library/think/Response.php ( 8.28 KB )
/websites/wwwroot/cmcc/thinkphp/library/think/debug/Html.php ( 4.17 KB )

[ DB ] CONNECT:[ UseTime:0.000504s ] mysql:host=127.0.0.1;port=3306;dbname=ysscdb;charset=utf8mb4
[ SQL ] SHOW COLUMNS FROM `tb_para` [ RunTime:0.000736s ]
[ SQL ] SELECT * FROM `tb_para` WHERE `id` = 1 LIMIT 1 [ RunTime:0.000577s ]
[ SQL ] SHOW COLUMNS FROM `tb_news` [ RunTime:0.000792s ]
[ SQL ] SELECT * FROM `tb_news` WHERE `id` = 104 LIMIT 1 [ RunTime:0.000620s ]
[ SQL ] SHOW COLUMNS FROM `tb_cate` [ RunTime:0.000666s ]
[ SQL ] SELECT * FROM `tb_cate` WHERE `id` = 99 LIMIT 1 [ RunTime:0.000442s ]
[ SQL ] SHOW COLUMNS FROM `tb_admin` [ RunTime:0.000594s ]
[ SQL ] SELECT * FROM `tb_admin` WHERE `id` = 1 LIMIT 1 [ RunTime:0.000424s ]
[ SQL ] SELECT * FROM `tb_cate` WHERE `id` = 13 LIMIT 1 [ RunTime:0.000419s ]
[ SQL ] SELECT `id`,`title`,`url` FROM `tb_news` WHERE `cate_id` = 98 ORDER BY `submit_date` DESC LIMIT 10 [ RunTime:0.005523s ]
[ SQL ] SHOW COLUMNS FROM `tb_index_cate` [ RunTime:0.000705s ]
[ SQL ] SELECT * FROM `tb_index_cate` WHERE `cate_aid` = 1 ORDER BY `sortid` ASC [ RunTime:0.000476s ]
[ SQL ] select dt,num from tb_price where check_status=1 and cate_aid=1 and cate_bid=10 and cate_cid=27 and area_aid=1 and area_bid=9 and area_cid=41 and mode01=113 and mode02=-1 and mode03=941 and mode04=-1 and mode05=1899 order by dt desc limit 2 [ RunTime:0.464086s ]
[ SQL ] SELECT * FROM `tb_cate` WHERE `id` = 10 LIMIT 1 [ RunTime:0.000455s ]
[ SQL ] select dt,num from tb_price where check_status=1 and cate_aid=1 and cate_bid=11 and cate_cid=38 and area_aid=1 and area_bid=14 and area_cid=91 and mode01=184 and mode02=621 and mode03=1095 and mode04=-1 and mode05=1899 order by dt desc limit 2 [ RunTime:0.450981s ]
[ SQL ] SELECT * FROM `tb_cate` WHERE `id` = 11 LIMIT 1 [ RunTime:0.000444s ]
[ SQL ] select dt,num from tb_price where check_status=1 and cate_aid=1 and cate_bid=12 and cate_cid=46 and area_aid=1 and area_bid=9 and area_cid=41 and mode01=325 and mode02=-1 and mode03=1231 and mode04=-1 and mode05=1899 order by dt desc limit 2 [ RunTime:0.445406s ]
[ SQL ] SELECT * FROM `tb_cate` WHERE `id` = 12 LIMIT 1 [ RunTime:0.000422s ]
[ SQL ] select dt,num from tb_price where check_status=1 and cate_aid=1 and cate_bid=13 and cate_cid=49 and area_aid=1 and area_bid=9 and area_cid=41 and mode01=377 and mode02=696 and mode03=1275 and mode04=-1 and mode05=1899 order by dt desc limit 2 [ RunTime:0.453625s ]
[ SQL ] SELECT * FROM `tb_cate` WHERE `id` = 13 LIMIT 1 [ RunTime:0.000425s ]
[ SQL ] select dt,num from tb_price where check_status=1 and cate_aid=1 and cate_bid=14 and cate_cid=54 and area_aid=1 and area_bid=9 and area_cid=41 and mode01=419 and mode02=-1 and mode03=1400 and mode04=-1 and mode05=1899 order by dt desc limit 2 [ RunTime:0.268814s ]
[ SQL ] SELECT * FROM `tb_cate` WHERE `id` = 14 LIMIT 1 [ RunTime:0.000518s ]
[ SQL ] SHOW COLUMNS FROM `tb_advert` [ RunTime:0.000696s ]
[ SQL ] SELECT * FROM `tb_advert` WHERE `id` = 1 LIMIT 1 [ RunTime:0.000389s ]
[ SQL ] SELECT * FROM `tb_cate` WHERE `pid` = 10 AND ( `id` < 3871 AND `id` NOT IN (25,3243,3244) ) ORDER BY `sortid` ASC LIMIT 8 [ RunTime:0.001427s ]
[ SQL ] SELECT * FROM `tb_cate` WHERE `pid` = 11 AND ( `id` < 3871 AND `id` NOT IN (25,3243,3244) ) ORDER BY `sortid` ASC LIMIT 8 [ RunTime:0.001386s ]
[ SQL ] SELECT * FROM `tb_cate` WHERE `pid` = 2 AND ( `id` < 3871 AND `id` NOT IN (25,3243,3244) ) ORDER BY `sortid` ASC LIMIT 6 [ RunTime:0.001365s ]
[ SQL ] SELECT * FROM `tb_cate` WHERE `pid` = 12 AND ( `id` < 3871 AND `id` NOT IN (25,3243,3244) ) ORDER BY `sortid` ASC LIMIT 5 [ RunTime:0.001461s ]
[ SQL ] SELECT * FROM `tb_cate` WHERE `pid` = 13 AND ( `id` < 3871 AND `id` NOT IN (25,3243,3244) ) ORDER BY `sortid` ASC LIMIT 5 [ RunTime:0.001380s ]
[ SQL ] SELECT * FROM `tb_cate` WHERE `pid` = 3 AND ( `id` < 3871 AND `id` NOT IN (25,3243,3244) ) ORDER BY `sortid` ASC LIMIT 6 [ RunTime:0.001376s ]
[ SQL ] SELECT * FROM `tb_cate` WHERE `pid` = 3246 AND ( `id` < 3871 AND `id` NOT IN (25,3243,3244) ) ORDER BY `sortid` ASC [ RunTime:0.001345s ]
[ SQL ] SELECT * FROM `tb_cate` WHERE `pid` = 3248 AND ( `id` < 3871 AND `id` NOT IN (25,3243,3244) ) ORDER BY `sortid` ASC [ RunTime:0.001330s ]
[ SQL ] SELECT * FROM `tb_cate` WHERE `pid` = 3245 AND ( `id` < 3871 AND `id` NOT IN (25,3243,3244) ) ORDER BY `sortid` ASC [ RunTime:0.001420s ]
[ SQL ] SELECT * FROM `tb_cate` WHERE `pid` = 10 AND ( `id` < 3871 AND `id` NOT IN (25,3243,3244) ) ORDER BY `sortid` ASC [ RunTime:0.001515s ]
[ SQL ] SELECT * FROM `tb_cate` WHERE `pid` = 11 AND ( `id` < 3871 AND `id` NOT IN (25,3243,3244) ) ORDER BY `sortid` ASC [ RunTime:0.001458s ]
[ SQL ] SELECT * FROM `tb_cate` WHERE `pid` = 12 AND ( `id` < 3871 AND `id` NOT IN (25,3243,3244) ) ORDER BY `sortid` ASC [ RunTime:0.001446s ]
[ SQL ] SELECT * FROM `tb_cate` WHERE `pid` = 13 AND ( `id` < 3871 AND `id` NOT IN (25,3243,3244) ) ORDER BY `sortid` ASC [ RunTime:0.001401s ]
[ SQL ] SELECT * FROM `tb_cate` WHERE `pid` = 14 AND ( `id` < 3871 AND `id` NOT IN (25,3243,3244) ) ORDER BY `sortid` ASC [ RunTime:0.001392s ]
[ SQL ] SELECT * FROM `tb_cate` WHERE `pid` = 19 AND ( `id` < 3871 AND `id` NOT IN (25,3243,3244) ) ORDER BY `sortid` ASC [ RunTime:0.001454s ]
[ SQL ] SELECT * FROM `tb_cate` WHERE `pid` = 15 AND ( `id` < 3871 AND `id` NOT IN (25,3243,3244) ) ORDER BY `sortid` ASC [ RunTime:0.001537s ]
[ SQL ] SELECT * FROM `tb_cate` WHERE `pid` = 16 AND ( `id` < 3871 AND `id` NOT IN (25,3243,3244) ) ORDER BY `sortid` ASC [ RunTime:0.001469s ]
[ SQL ] SELECT * FROM `tb_cate` WHERE `pid` = 17 AND ( `id` < 3871 AND `id` NOT IN (25,3243,3244) ) ORDER BY `sortid` ASC [ RunTime:0.001358s ]
[ SQL ] SELECT * FROM `tb_cate` WHERE `pid` = 3 AND ( `id` < 3871 AND `id` NOT IN (25,3243,3244) ) ORDER BY `sortid` ASC [ RunTime:0.001359s ]
[ SQL ] SELECT * FROM `tb_advert` WHERE `id` = 48 LIMIT 1 [ RunTime:0.000394s ]
[ SQL ] SELECT * FROM `tb_advert` WHERE `id` = 49 LIMIT 1 [ RunTime:0.000362s ]
[ SQL ] SELECT * FROM `tb_advert` WHERE `id` = 50 LIMIT 1 [ RunTime:0.000378s ]
[ SQL ] SELECT * FROM `tb_para` WHERE `id` = 1 LIMIT 1 [ RunTime:0.000476s ]