Price trend

According to the monitoring of the Commodity Market Analysis System of SunSirs, as of December 13th, the price of 0 # zinc was 25,920 RMB/ton, a slight decrease of 0.23% compared to the zinc price of 25,980 RMB/ton on December 9th.

Analysis review

This week, the domestic zinc market was positively influenced by the macroeconomic conference, showing an overall trend of first rising and then falling. The content of the meeting had significantly boosted the domestic economy, driving up the price of zinc in the middle of the week. However, by the weekend, the price of zinc futures had fallen slightly, and the market volatility was more intense.

Supply and demand side

The circulation of spot goods has been tightened due to the maintenance of some smelters, and the quotes of spot traders were generally firm. The quotes of Qilin, Mengzi, Lanzi, Danxia and other sources of goods had been raised and discounted within the week. The downstream market had a poor receiving atmosphere near absolute high prices and premiums, and the overall trading atmosphere was slightly average.

Inventory situation

Shanghai area: The goods arrived gradually within the week, but there were significant restrictions on circulation. The downstream inquiry atmosphere was strong, and inventory was gradually accumulating. Guangdong region: Refinery maintenance and delivery were limited, downstream point price outflow mainly followed market fluctuations, and inventory continued to decline. Tianjin region: Northern galvanizing production has improved, procurement has gradually improved, and inventory has slightly decreased.

Market outlook

This week, the zinc market was boosted by the macroeconomic conference and showed an overall trend of increased volatility. Next week, the market will continue to monitor macroeconomic data and changes in supply and demand, and it is expected that there will be adjustments in the premium and delivery situation.

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