Zinc price fluctuated and rose this week

According to the data monitoring of the Business News Agency, as of February 20, the zinc price was 23238 yuan/ton, up 1.04% from the fluctuating zinc price of 22998 yuan/ton on February 13. Zinc market inventory increased and demand warmed up, and zinc prices rose in shock this week.

International zinc market

The tightening monetary policy of the Federal Reserve remains unchanged, the strength of the US dollar remains unchanged, the expectation of weak demand remains unchanged, and commodity prices fluctuate and fall; London’s zinc inventory increased significantly this week, and overseas zinc supply is expected to increase; With the end of the winter heating peak in Europe, the operating rate of zinc smelting in Europe is expected to rise, and the supply of international zinc market is expected to increase; The zinc market has sufficient supply and insufficient demand, and the downward pressure is great.

Domestic zinc market

The domestic credit data released showed that China’s credit data in January exceeded expectations, and M2 growth rate exceeded expectations. The credit data met the market’s expectations for domestic economic recovery; The operating rate of zinc plating and die-casting zinc alloy has risen steadily, and the demand of zinc industry has warmed up; The processing cost remains high, the zinc ore smelting supply is released, the zinc ore supply is sufficient, the domestic zinc market output increases, the zinc market supply increases, and the social zinc inventory accumulates; Economic stimulus policies have been introduced in many places in China, and downstream demand has warmed up. The supply and demand of the zinc market increased, and the downward pressure of the zinc market still had an increasing upward momentum.

Aftermarket forecast

According to the data analyst of the Business News Agency, the supply and demand of zinc market have increased, and the rising power of zinc price has increased, and the downward pressure still exists. In the future, the supply and demand of zinc market will increase in the short term, but the growth rate of supply will be faster than the growth rate of demand. The pressure of zinc price decline will be greater and the rising power will remain. It is expected that the zinc price volatility will stabilize.