Domestic metal zinc market rose on September 21

On September 21, the domestic market for zinc metal was stable. The average price of metal zinc in the domestic spot market was 2,2690.00 yuan/ton, which was 0.06% lower than the previous day’s price. The average ex-factory price was 2,305.29 yuan/ton, compared with the previous trading day. The price rose by 0.12%.

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On September 20th, the zinc (market) commodity index was 129.68, up 1.91 points from yesterday, down 16.75% from the highest point of 155.77 points (2017-10-09) in the cycle, compared with the lowest point of 72.28 on November 22, 2015. It has risen by 79.41%. (Note: Period refers to 2011-09-01 to date).

On September 21, the zinc price was stable. Recently, the non-ferrous metal sector was fully red, and the zinc price followed the sharp rise. On September 21, the domestic zinc price was basically stable.

Domestically, in recent years, the approval of projects such as UHV and rail transit has been reopened, and a large number of infrastructure projects have been intensively started, and supporting policies have also entered the stage of intensive introduction. The increase in the construction of infrastructure projects will definitely drive the sharp increase in demand for zinc ingots. The demand for zinc in the market will increase, and the domestic zinc market is promising.

On the international front, the Trump administration said it would impose tariffs on about 200 billion US dollars of Chinese goods. As one of the measures to pressure China to change its business practices, the taxation began on the 24th and the Sino-US trade war escalated. The deterioration of the macroeconomic environment has created a negative impact on the non-ferrous metals market, and the zinc market has a downside risk.

Forecast of the market outlook: In terms of demand, in terms of demand, the construction of a large number of infrastructure projects has promoted a large increase in demand for zinc ingots, and the price of zinc has increased. However, the Sino-US trade war has escalated and the international economic environment has deteriorated, which has affected the recovery of zinc demand. On the supply side, the inventory of zinc ingots in the futures market dropped sharply. On the 21st, the inventory of Shanghai futures zinc ingots was 5,581 tons, and the futures inventory was reduced by 1,608 tons. In the spot market, the output of zinc mining enterprises decreased in August, but the overall zinc market still provided sufficient supply. The supply gap is reduced. In general, zinc market outlook is expected to grow, zinc prices are strong, domestic zinc mines are affected by environmental protection, supply is limited, and zinc prices are expected to rise in the market. However, due to the Sino-US trade war, zinc prices are unlikely to continue to rise sharply. The price fluctuated.

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