Zinc prices have improved and increased this week

Zinc prices have improved and increased this week

According to the Commodity Market Analysis System of the Business Society, as of July 25th, the zinc price was 20442 yuan/ton, an increase of 0.74% compared to the fluctuating zinc price of 20292 yuan/ton on July 19th. This week, the non-ferrous metal sector experienced a volatile and upward trend, which is beneficial for the metal zinc market. Zinc prices have experienced a volatile and upward trend this week.

Non ferrous metal sector up

According to the commodity market analysis system of the business community, the nonferrous metal index on July 25 was 1112 points, up 2 points from yesterday, down 27.70% from the cycle’s highest point of 1538 points (2021-10-18), and up 83.20% from the lowest point of 607 points on November 24, 2015 (note: the cycle refers to 2011-12-01 to now). China’s strong policies are gradually being implemented, and expectations of macroeconomic recovery are increasing. Wall Street generally expects the Federal Reserve to restart the pace of interest rate hikes, but at the same time, it is expected that the Federal Reserve’s rate hike in July may be the last rate hike of the year, leading to a rise in London’s non-ferrous metals. This week, the non-ferrous metal sector saw a general rise, with macroeconomic benefits and a rebound in the zinc market.

Future Market Forecast

Data analysts from Business Society believe that China’s strong support policy has been implemented, the US interest rate hike may come to an end, macroeconomic sentiment will improve, and non-ferrous metals will generally rise. In the future, strong supply still exists, weak demand may improve, and it is expected that zinc prices will fluctuate and consolidate in the future.