Zinc prices fell continuously this week
| PVA 1799 (PVA BF17) |
According to the data monitoring of business agency, the zinc market recovered slightly after falling continuously this week. As of April 29, the price of zinc was 27742 yuan / ton, down 2.64% from 28494 yuan / ton on April 22 last weekend. Since the domestic spot zinc price hit a record high of 28754 yuan / ton on April 20, the zinc price recovered slightly after falling for four consecutive trading days. This week, the zinc market stopped falling and rebounded, and the zinc market fluctuated and adjusted at a high level.
The epidemic disturbs the production and marketing of the automobile industry
According to the passenger car production and sales data released by the passenger Federation, the retail sales volume in March 2022 was 1.579 million, a year-on-year decrease of 10.5% and a month on month increase of 25.6%; The wholesale sales volume was 1.814 million, a year-on-year decrease of 1.6% and a month on month increase of 23.6%; The output was 1.823 million, a year-on-year decrease of 0.3% and a month on month increase of 22%. According to the survey data of the passenger Federation, the National Automobile wholesale volume decreased by 40% year-on-year in the first week of April. Among them, the wholesale sales volume of SAIC Volkswagen decreased by 84% year-on-year, and that of SAIC GM decreased by 98% year-on-year. As of April 23, the sales volume in April fell by 39% year-on-year. Automobile sales have fallen sharply, the market demand is weak, the demand for galvanized sheet is declining, the demand for zinc ingot is weak, and the rising space of zinc market is limited.
The auto industry chain will resume production one after another
| PVA |
In mid April, the curtain of resumption of work and production was gradually opened in Shanghai. On the 18th, SAIC Group and other automobile manufacturers started the pressure test of resumption of work and production. With the implementation of the white list of “resumption of work and production”, more automobile related enterprises and enterprises in other industries have also joined the army of resumption of work and production. Market demand is slowly picking up. However, in the resumption of work and production, enterprises still face a series of challenges. The recovery speed of demand is slow or difficult to meet expectations. The demand may still be in the recovery stage in May.
Future forecast
Business analysts believe that: after the zinc price hit a record high, it fell rapidly, the construction of downstream enterprises in the domestic zinc market fell, the production and sales volume of the automobile industry fell sharply, the demand of the zinc market was weak, the effect of resumption of work and production was not as expected, the room for zinc price rise was limited, and the high zinc price fell rapidly. With the advent of the May Day holiday, manufacturers prepared goods in advance, resumed work and production, continued to stimulate the recovery of downstream consumption, and the zinc price stopped falling and rising. Generally speaking, the supply and demand of zinc market will be weak for a long time in the future, the rising space of zinc price is limited after reaching a record high, the fear of zinc supply shortage is difficult to alleviate, and the falling space of zinc price is small. It is expected that the high shock adjustment of zinc price in the future.
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