Zinc price rose continuously in November
According to the data monitoring of the business community, after the continuous fall of the zinc price, the zinc price rose in November. As of November 8, the zinc price was 24668 yuan/ton, up 6.61% from 23138 yuan/ton on November 1. The continuous fall of zinc price stimulated the turnover and accumulation of zinc market. The inventory of zinc market fell sharply and the supply of zinc was tight. In November, the zinc price rose for five consecutive times.
The inventory of zinc ingots in the zinc market dropped sharply
Statistical table of zinc futures inventory in Shanghai futures market
Time, futures inventory, increase and decrease
October 10., 12865., – 1251
October 11., 12638., – 227
October 12, 13041, 403
October 13., 13165., 124
October 14., 16329., 3164
October 17, 42,080, 25,751
October 18, 45164, 3084
October 19., 44990., – 174
October 20., 40900., – 4090
October 21., 38815., – 2085
October 24., 37087., – 1728
October 25.,, 32335., – 4752
October 26., 30228., – 2107
October 27, 27,460., – 2768
October 28., 22669., – 4791
October 31., 17,935., – 4734
November 1, 11318, – 6617
November 2., 5347., – 5971
November 3., 1396., – 3951
November 4., 842., – 554
November 7., 644., – 198
November 8., 644., 0
It can be seen from the zinc ingot inventory table of Shanghai futures market that since the middle of October, the demand of zinc market is expected to recover, and the inventory of Shanghai futures market has declined, while the continuous drop of zinc price at the end of October has further stimulated the enthusiasm of zinc market. By November, the zinc inventory had dropped 6617 tons on the first day, and the zinc market’s inventory had no way to drop, and the zinc price had risen.
Zinc ingot inventory in London futures market
Time, futures inventory, increase and decrease
October 3., 53,625., 0
October 4., 53425., – 200
October 5., 53350., – 75
October 6., 53325., – 25
October 7., 53475., 150
October 10., 53300., – 175
October 11., 53,275., – 25
October 12,. 53100., – 175
October 13,. 51,925., – 1175
October 14., 51500., – 425
October 17, 51350, – 150
October 18., 51225., – 125
October 19., 51200., – 25
October 20., 50925., – 275
October 21., 50600., – 325
October 24., 50575., – 25
October 25., 49825., – 750
October 26., 48925., – 900
October 27., 48175., – 750
October 28., 47400., – 775
October 31., 45525., – 1875
November 1., 44825., – 700
November 2., 44225., – 600
November 3., 44175., – 50
November 4, 44050, – 125
November 7, 43850., – 200
November 8., 43675., – 175
| POLYVINYL ALCOHOL |
It can be seen from the zinc ingot inventory table in London futures market that since October, the zinc ingot inventory in London market has been declining continuously, and the speed has reached the peak around November. The supply of zinc ingots in the international market is insufficient, and the inventory of zinc market continues to decline. At the end of October, the continuous fall of zinc price stimulated the purchasing enthusiasm of zinc market, and the inventory of zinc ingots dropped significantly. However, with the continuous increase of zinc price, the purchasing enthusiasm of zinc market declined. The reduction of zinc ingot inventory slowed down.
Future market forecast
According to the data analysts of the business community; The general background of weak supply and demand in the zinc market has not fundamentally changed. The demand in the zinc market in October did not perform as expected, and the zinc price fell continuously. However, the falling zinc price stimulated downstream customers’ desire to copy the bottom, and the zinc ingot inventory plummeted. The supply of zinc is temporarily in short supply, and the price of zinc has risen continuously in November. However, the overall balance of supply and demand in the zinc market has not been broken. With the decline of zinc ingot inventory, the rise of zinc price has slowed down. It is expected that the future zinc price will fall slightly in the short term, and the medium and long term zinc price will be adjusted in a wide range.
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