1、 Price trend
According to the data monitoring of the business agency: after the festival, the zinc market continued to pick up and rise, but the rise of zinc price slowed down significantly, and the zinc price rose slightly. As of May 19, the spot price of zinc was 17236.67 yuan / ton, up 3.54% from 16646.67 yuan / ton at the beginning of the month. Although zinc still performed strongly in May, the overall upward trend slowed down.
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2、 Market trend analysis
Zinc stock in LME Market
Product inventory increase / decrease time
Zinc 98375-250 May 19
Zinc 98625-350 May 18
Zinc 98975-50 May 15
Zinc 99025-75 May 14
Zinc 99100 – 375 May 13
Zinc 99475-650 May 12
Zinc 100125-50 May 11
Zinc 100175-250 May 7
Zinc 100425-250 May 6
Zinc 100675 – 175 May 5
Zinc 100850 0 may 4
Zinc 100850 3425 May 1
It can be seen from the table that in May, the stock of zinc ingots in LME market fell, the stock of international zinc market decreased, the supply of zinc market was stable, the demand of international zinc market rose slowly, the price of international zinc rose in shock, and the international zinc market recovered, which was good for the domestic zinc market.
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Zinc stock in Shanghai market in May
Product inventory increase / decrease time
Zinc 53361-477 May 19
Zinc 53838-754 May 18
Zinc 54592-952 May 15
Zinc 55544 629 May 14
Zinc 54915-28 May 13
Zinc 54943 1554 May 12
Zinc 53389 – 177 May 11
Zinc 53566 604 May 8
Zinc 52962-1759 May 7
Zinc 54721-1584 May 6
It can be seen from the table that the stock of zinc ingots in Shanghai futures market decreased after the festival, but the decline of futures stock slowed down significantly, and the stock of domestic zinc market increased, the supply of domestic zinc market was sufficient, and the pressure of supply and demand was relieved. Overall, the domestic zinc market has weakened, and the recovery of zinc market has slowed down.
3、 Future prospects
Bai Jiaxin, an analyst of business club, thinks that after May Festival, the stock of zinc market in the international market slowly decreased, and the import of zinc market was affected slightly, which is good for the domestic zinc market. In the domestic zinc market, domestic infrastructure projects are still working, and the demand for zinc ingots is increasing, but the price of zinc is rising sharply, the pressure on downstream procurement is increasing, the enthusiasm of downstream customers’ procurement is weakening, and the inventory of zinc market is slowing down; in May, the processing fee of zinc concentrate continues to fall, the enthusiasm of zinc smelting enterprises to start work is declining, and the supply of zinc market is declining. Generally speaking, the rising momentum of zinc market in the future is sufficient, and the main trend of zinc price in the future is still rising, but the rising of zinc price in the future may slow down, and it is expected that zinc price in the future will fluctuate slightly.
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