According to the monitoring of the commodity market analysis system of Shengyi Society, as of December 20th, the price of 0 # zinc was 25508 yuan/ton, a slight decrease of 2.31% from the zinc price of 26110 yuan/ton on December 16th.
This week’s market analysis
This week, zinc production showed a slight increase trend, while the inflow of imported zinc ingots further improved the supply side situation. According to market feedback, there has been an increase in pre-sale supply recently, and it is expected that the arrival of zinc ingots will improve this weekend.
Raw material end
Currently, smelters are still operating at a loss, but the processing fee for domestic zinc concentrate has recently increased from 1500 yuan/ton to 1650 yuan/ton, and the processing fee for imported zinc concentrate has also been slightly raised to -30 US dollars/ton. In addition, with zinc prices remaining relatively high, the losses of smelters have narrowed, and their operating sentiment has also been boosted.
Smelting end
Some mines in northern China have gradually entered a seasonal shutdown stage, which is expected to lead to a reduction in domestic zinc concentrate production. However, it is worth noting that most domestic smelters have already completed winter reserve work ahead of schedule, resulting in continuous accumulation of zinc concentrate inventory at ports.
Inventory situation
Due to the control of goods and freight in the early stage of smelting plants, there has been no significant improvement in the arrival of zinc ingots in various regions. In this context, downstream enterprises are seizing opportunities for low-priced procurement, leading to a continuous decrease in social inventory.
comprehensive analysis
This week, the raw material support in the zinc market weakened, coupled with the inflow of imported zinc ingots, leading to an improvement in the supply side and a decline in zinc prices. We still need to pay attention to the arrival situation in various regions in the short term.
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