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SunSirs: Both Supply and Demand in the Zinc Market Increased, and Zinc Prices Were Weakly

Increase font size  Decrease font size Date:2022-09-22   Views:15

  Zinc prices fluctuated and consolidated this week



  According to the data monitoring of SunSirs, the price of zinc fluctuated and consolidated this week. As of September 20, the zinc price was 25,120 RMB/ton, down 0.30% from the zinc price of 25,196 RMB/ton on September 12; both supply and demand in the zinc market improved, and the zinc price fluctuated and consolidated this week.



  On September 20, the Zinc Commodity Index was 143.49, a decrease of 0.38 points from the previous day, a decrease of 12.64% from the highest point in the cycle of 164.25 points (2022-04-20), and an increase of 98.52% from the lowest point of 72.28 points on November 22, 2015. (Note: The cycle refers to 2011-09-01 to the present)



  Base Metals Index Consolidated



  It can be seen from the base metal index of SunSirs that the base metal index on September 20 was 1,229 points, an increase of 1 point from the previous day, a decrease of 23.95% from the highest point in the cycle of 1,616 points (2022-03-09), and an increase of 91.43% from the lowest point of 642 points on November 24, 2015. (Note: The cycle refers to 2011-12-01 to the present). This week, the base metal index fluctuated and rose slightly. The "Golden September" is coming, the macroeconomic environment has recovered, the base metal index has risen slightly, and the upward momentum of the zinc market still exists.



  Both supply and demand of zinc market increased



  On the supply side, the start of zinc smelters has gradually recovered from the maintenance and production reduction, and the supply of the zinc market has increased; on the demand side, galvanizing enterprises have resumed production after the Mid-Autumn Festival, and the operating rate has rebounded. In addition, some companies are planning to stock up on the National Day, and the demand for zinc has picked up. Affected by the typhoon, production in Zhejiang was suspended for a week, and the start-up of alloy enterprises declined. 'Gold September and silver October' is coming, both supply and demand in the zinc market have increased. However, the social inventory of zinc ingots continued to be destocked, and the supply and demand in the zinc market were relatively balanced.



  Market outlook



  Analysts of SunSirs believe that: the recent high prices of natural gas and electricity in Europe have fallen, and the short-term energy speculation has cooled, but the European energy prices are still easy to rise and difficult to fall in the fourth quarter, and there is still support for zinc prices in the medium and long term. However, in the short term, domestic zinc smelting has been slowly resumed and the supply has increased. National Day stockpiling plus gold September and silver October, the demand in the zinc market has recovered, and the overall supply and demand in the zinc market have both increased. It is expected that the zinc price will fluctuate in the short term.


 
 
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