1. Zinc price trend

The zinc price fluctuated and adjusted in April, and the zinc market was basically stable. The zinc price fluctuated and fell this week, and the zinc market weakened. As of April 25, the average zinc price was 21,06.67 yuan/ton, which was a drop of 1.95% from the 22,036.67 yuan/ton zinc price on April 18 last weekend; it fluctuated slightly from the April 1 zinc price of 21,733.33 yuan/ton. 0.58%, the zinc market was dragged down.

2. India's COVID-19 continues to worsen

Since April, India's daily increase in the number of confirmed cases of new crowns has hit a record high. According to the latest data from the World Health Organization, India has the largest number of new confirmed cases in a single day on the 23rd and 24th. According to official Indian data, the number of confirmed cases in India exceeded 100,000 for the first time on April 5, 200,000 on the 15th, and 300,000 on the 22nd. The continuous deterioration of the new crown epidemic in India has triggered global concerns, the economic recovery has cast a shadow, and the recovery of zinc market demand has been hindered.

In terms of commercial trade, looking at the overall situation of India’s global exports, India’s main export commodities are chemical products, mineral products, and precious metals and products. India's exports to China are mainly fish, spices, iron ore, etc., while the main imports from China are some electronic products and equipment. The Indian epidemic has reduced the domestic zinc market’s exports to India, but the impact is limited. The demand in the zinc market has fallen but the decline has been limited. The zinc market is bearish but bearish pressure is less.

3. Analysis

SunSirs analysts believe that due to the impact of the Indian epidemic, the global economic recovery has slowed down, dragging down the demand for the zinc market, but it can be seen from the types of major trade commodities in China and India that the Indian epidemic has little impact on China's zinc market. It is expected that the market outlook of the zinc market will be weak and stable temporarily, and the zinc market will rise indefinitely.

4. Related listed companies

Zhongjin Lingnan (000060), Chihong Zinc Germanium (600497).

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