Zinc prices hit a record high this week
| PVA 1788 (PVA BP17) |
According to the data monitoring of business society, the zinc market rose this week. As of April 15, the price of zinc was 28070 yuan / ton, up 4.10% from 26964 yuan / ton on April 8 last weekend. On April 14, the domestic spot zinc price was 28372 yuan / ton. On April 14, the zinc commodity index was 162.07, an increase of 0.72 points over yesterday, a record high in the cycle, and an increase of 124.23% over the lowest point of 72.28 on November 22, 2015. (Note: the period refers to the period from September 1, 2011 to now). This week, the zinc market rose strongly, and the zinc price hit a cycle record high.
Zinc ingot inventory in LME market continued to decline sharply
From the zinc ingot inventory data of LME market, it can be seen that the zinc ingot inventory in LME market has continued to decline significantly since April, the number of registered warehouse receipts has continued to decline, and the number of cancelled warehouse receipts has increased sharply and remained high. The supply of zinc in the city decreased, and the driving force for the rise of zinc price increased. The number of registered warehouse receipts continued to decline, the number of cancelled warehouse receipts rose sharply and was far greater than the number of registered warehouse receipts, and the supply of zinc in the future market was expected to decline significantly. The decline in the number of registered warehouse receipts this week has slowed down compared with last week, the number of registered warehouse receipts is relatively stable, the number of cancelled warehouse receipts this week has decreased slightly, the future supply of zinc market is expected to stabilize, and the room for zinc price rise is limited.
The energy crisis continues to affect the supply of zinc in the city
| PVA |
The conflict between Russia and Ukraine continues to ferment, the prices of energy such as European natural gas soar, and the cost of zinc smelting rises, which affects the supply of zinc city. The production of zinc smelting manufacturers continues to be reduced, the future supply of zinc city is expected to be reduced, and the rising power of zinc city is increased. At the end of the heating season, European energy prices may fall, and the cost of zinc smelting in Europe has decreased, but the cost of zinc smelting is still at a high level, the expectation of reduced supply in the zinc market remains, the rising power of the zinc market is large, and the downward pressure remains.
Poor logistics and transportation impact the demand of zinc City
The continuous prevention and control in China, the poor logistics and transportation around the country have an impact on the normal operation of the industrial chain supply, affecting the production of local enterprises, the shutdown and production reduction of enterprises in the downstream automobile industry have increased, the construction of downstream enterprises in zinc city has decreased, the demand of zinc city has declined seriously, and the downward pressure of zinc city has increased.
Future forecast
Business analysts believe that: affected by the European energy crisis, European zinc smelters are expected to reduce production, the supply of zinc is expected to decline, and the price of zinc rises in response; However, the start-up of domestic zinc downstream enterprises has declined, and the fear of heights among zinc downstream customers is strong. The demand of zinc market has declined, and the downward pressure of zinc market still exists. Generally speaking, the supply and demand of zinc market in the future are both weak, and the zinc market is still bad. It is expected that the high zinc price will fluctuate and consolidate.
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