Zinc price trend
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According to the business agency data monitoring: zinc prices continue to fall this week, the zinc market is lower. As of September 27, the average price of zinc was 19570.00 yuan / ton, down from 20493.33 yuan / ton on September 21 at the beginning of the week, with a decrease of 4.51% this week and a year-on-year increase of 3.36%.
Zinc price in LME Market
From the trend chart of zinc price in LME market, it can be seen that the international zinc market is lower this week, and the zinc price continues to decline. The decline of international zinc market is bad for domestic zinc market, and the downward pressure of domestic zinc market is increasing.
New global epidemic data
It can be seen from the new data of the epidemic situation that the data of newly confirmed cases in recent years has continued to rise, which has hindered enterprises from returning to production and work, and seriously affected the global economic recovery. The economic recovery is slow, the demand for zinc market is slow, the demand for zinc market is negative, and the downward pressure of zinc market is greater.
Analysis, review and Prospect
Bai Jiaxin, an analyst at the business agency, said: the prices of Lunzhou zinc and Shanghai zinc both fell by more than 5% this week, and the zinc price fell sharply, indicating that the recent weak zinc market and the lack of expectation of zinc market demand may be the main reason for the continuous decline of zinc price in the near future. Recently, the new data of foreign epidemic situation is still high, and there is a trend of “new high”, which has formed a major blow to the current global resumption of production and work. The global economic recovery is delayed, and the zinc market’s demand for zinc ingots is expected to decline. With the US election approaching, investors are nervous, investors are cautious about market fluctuations, and their risk aversion is high. Stock markets in many countries are falling and stock markets are falling, which is a drag on period Commodity zinc market fell, on the spot zinc price market negative. Generally speaking, the panic psychology in the zinc market is big, which drags down the price of zinc ingots. It is expected that the future zinc market will fluctuate lower.
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