Zinc prices rose slightly after the festival

According to the data monitoring of business society, the zinc price rose slightly after new year’s day, and the zinc market rose slowly. As of January 18, the price of zinc was 24700 yuan / ton, up 1.97% from 24222 yuan / ton on January 1. Zinc prices rose slowly, and the zinc market fluctuated and rose after the festival.

The central bank cut interest rates by 10 basis points

On January 17, the people’s Bank of China announced that in order to maintain the reasonable and abundant liquidity of the banking system, it carried out RMB 700 billion medium-term lending facility (MLF) operation and RMB 100 billion open market reverse repurchase operation on the same day. The bid winning interest rate of medium-term lending facility (MLF) operation and open market reverse repurchase operation decreased by 10 basis points. Affected by the favorable policy interest rate cut, the non-ferrous metal market is expected to rise.

Non ferrous metals index rose

It can be seen from the non-ferrous metal index chart of business society that the non-ferrous metal index rose violently in January 2022. The non-ferrous metal index reached 1278 points on January 18, u

p 41 points or 3.35% from 1237 points on January 1. Nonferrous metal sector rose, followed by zinc market.

Future forecast

Business analysts believe that: under the double weak market of supply and demand, goods are prepared in the Spring Festival, downstream demand rises slightly, the central bank’s interest rate cut is good for the future non-ferrous metals, domestic zinc ore and zinc smelting production are normal, domestic short-term stocks are accumulated slightly, the non-ferrous metal plate rises, the zinc market rises, and the overall rise support of the zinc market still has limited downward pressure. Zinc prices are expected to rise slightly in the future.