The price of zinc rose sharply after the festival
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According to the data monitoring of the business community, as of October 11, the average market price of zinc ingots in East China was 25736 yuan/ton, up 2.53% from 25100 yuan/ton on October 10, and up 4.15% from 24710 yuan/ton on September 30 before the festival. After the festival, the zinc price rose continuously, and the zinc market rose sharply.
Key points of analysis
Since late September, some zinc smelting enterprises in Yunnan have limited power and controlled production, and zinc smelting output is expected to decline. During the National Day, the increase in interest rates in the United States caused macroeconomic fluctuations. The expected growth of demand in the zinc market was insufficient; The output of zinc smelting by fermentation is expected to decline due to the continuous energy crisis in Europe, and LME discussed banning the acceptance of Russian metals. In general, the supply of zinc is expected to decline significantly, while the demand is still sluggish.
Future market forecast
Recently, the zinc market continues to be weak in both supply and demand, with limited support for zinc price rise. In the future, the demand of domestic zinc market is expected to recover in the long run due to the expectation of the twenty major policies, the silver market plus the implementation of real estate policies. In the future, the short-term zinc price fluctuated and consolidated, and the long-term zinc price rise was largely supported.
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