1、 Price trend
According to the data monitoring of the business agency, the zinc market has recently been adjusted by shocks, and the zinc price fell slightly in March. As of March 17, the spot price of zinc was 15756.67 yuan / ton, down 3% from 16243.33 yuan / ton at the beginning of the month. Zinc price fell slightly and zinc market was negative.
2、 Market trend analysis
Domestic zinc stock market
Time inventory (ton) change (ton)
March 17 96928 10043
March 13 86885 504
March 12 86381 1067
March 11 85314-2620
March 10 87934-552
March 9 88486 399
March 6 88087 1079
March 5 87008 669
March 4 86339 153
March 3 86186-233
March 2 86419 331
According to the data released by Shanghai futures market, zinc stock rose in March, and the growth rate of zinc stock slowed down significantly. With the gradual recovery of downstream construction, the demand of downstream is rising, and the demand of domestic zinc market is rising; although the domestic logistics and transportation are gradually recovering, the zinc ingot trade is generally not recovered from the previous market. Generally speaking, the supply of zinc is sufficient, and the demand has recovered in the near future. The supply of zinc exceeds the demand, and the market is negative.
| EDTA |
Added value of industries above Designated Size dropped by 13.5% from January to February
According to the data of the National Bureau of statistics, from January to February, the added value of industries above Designated Size actually decreased by 13.5% year-on-year. From a month on month perspective, in February, the added value of industries above designated size decreased by 26.63% compared with the previous month. From the perspective of industry, from January to February, the non-ferrous metal smelting and rolling processing industry decreased by 8.5%, automobile manufacturing industry by 31.8%, railway, ship, aerospace and other transportation equipment manufacturing industry by 28.2%, electrical machinery and equipment manufacturing industry by 24.7%; from the perspective of products, from January to February, 10 non-ferrous metals by 9.35 million tons, up 2.2% year-on-year; 2.05 million vehicles, down 45.8%. From the data of industries and products, it can be seen that from January to February, the domestic non-ferrous metal smelting industry was less affected, and the non-ferrous metal production had a slight increase; however, the automobile manufacturing, railway, ship, infrastructure, machinery manufacturing and other industries were seriously affected, and these industries are the main users of zinc downstream, among which the automobile industry was directly cut back, down 45.8%, and the downstream demand for zinc ingots Sharp decline, negative for domestic zinc market.
Productivity trends of several zinc mines
Lunding mining company suspended construction and commissioning activities directly related to Neves Corvo zinc mine expansion project, with recovery time to be determined.
Implsora minera Santa Cruz, a mining company, decided to suspend the operation of the silver lead zinc mine of the same name in the state of sacatecas, Mexico, because the federal environmental protection agency is conducting an environmental investigation.
Silvercorp metals Inc (TSX: SVM), a silver lead zinc miner in Vancouver, Canada, said that up to now, its Ying mine in Henan Province, China and GC mine in Guangdong Province have recovered 94% of the planned capacity, and its inventory can meet the production demand for more than one month.
As the Italian government has now ordered, activities in all parts of the country will be restricted. Alta zinc has suspended drilling for the country’s gorno zinc project.
| Melamine |
Zinc concentrate processing fee
Name: time of rise and fall of middle value of quotation
ZN50 domestic zinc concentrate TC / Guangxi 6100-6300 6200 0 2020-3-16
ZN50 domestic zinc concentrate TC / Hunan 6100-6300 6200-50 2020-3-16
ZN50 domestic zinc concentrate TC / Yunnan 5900-6100 6000 0 2020-3-16
ZN50 domestic zinc concentrate TC / Shaanxi 6100-6300 6200-50 2020-3-16
ZN50 domestic zinc concentrate TC / Inner Mongolia 6300-6500 6400 0 2020-3-16
It can be seen from the table that the processing fee of zinc concentrate in March is about 6200-6400 yuan / metal ton. Although the processing fee has declined slightly in the near future, it is still high in general. Compared with the price of zinc ingot, the processing fee accounts for 40%. The proportion of zinc concentrate processing cost increased, the space for zinc ingot to fall decreased, and the pressure for zinc ingot to rise increased.
3、 Future prospects
Baijiaxin, an analyst of business association, thinks that in February, the domestic economic performance was weak, the demand for zinc ingots fell seriously, while the production of zinc ingots was less affected. In March, the processing fee of zinc concentrate remained high, the cost of zinc ingots remained high, the price of zinc ingots touched the cost line, and the space for zinc price to drop was limited. However, due to the fact that the demand for zinc is not getting better, although the national policy is favorable, the number of downstream enterprises returning to work is increasing in the near future, and the demand for zinc ingots is picking up, but the deterioration of the global economic situation, the global zinc market is seriously damaged, the short-term rise of domestic zinc market is difficult to offset the decline of international zinc market, the expected decline of global zinc market demand is serious, and the environment of domestic zinc market is getting better and the international environment is deteriorating Shock adjustment under pressure. At the same time, due to the serious overstock of zinc stock, it is expected that the zinc market in the future will be vulnerable to shocks and adjustments.
| EDTA 2Na |