Zinc price trend
According to the business agency data monitoring: domestic zinc prices in the recent three trading days continued to rise sharply. The average price of zinc on July 13 was 18150.00 yuan / ton, up 6.58% compared with 17030.00 yuan / ton on July 8. Zinc prices continue to rise sharply, whether the zinc market to welcome the dawn, return to the bull market?
Market trend of galvanized steel sheet
It can be seen from the trend chart of galvanized steel sheet in July that the price of galvanized steel plate rose slowly in July, and the recent price rise of galvanized steel sheet was obvious, which was good for the zinc market in general, but the support for the rise was insufficient.
Trend of automobile sales
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According to the data released by the joint conference of passenger car market information, in June, the sales volume of domestic narrow passenger car market reached 1.654 million, with a month on month increase of 2.9%, and the retail sales in June decreased by 6.2% year-on-year, maintaining the growth trend for four consecutive months since March. In June, the domestic passenger car market broke the law of off-season in the same period of previous years, and still recovered growth. The strong performance of the automobile market is good for the domestic zinc market, which has strong support.
According to the June production and sales data released by China Automobile Industry Association, in June 2020, the production and sales of automobiles reached 2.235 million and 2.3 million respectively, with a month on month increase of 6.3% and 4.8% respectively, and a year-on-year increase of 22.5% and 11.6% respectively. Moreover, the automobile production and sales in June 2020 have both broken the monthly record high of production and sales in June of previous years. The outstanding performance of automobile market has provided enough support for the rebound of zinc market, and the demand for zinc in automobile market is rising.
LME international zinc price
It can be seen from the LME zinc price trend chart that the zinc price of futures in July fluctuated and rose. The rise of zinc price in the recent three trading days stimulated the rebound of zinc price in the spot market, and the spot zinc market was favorable.
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Analysis, review and Prospect
Bai Jiaxin, an analyst at the business agency, believes: since July, the downstream market of zinc market has been favorable, the market of galvanized steel has continued to rise, the demand for zinc in the automobile market has increased, and the favorable situation in the zinc market has been strengthened; the rise of zinc price in international futures has provided the most direct support for the rebound of spot zinc price, and the upward momentum of zinc market is sufficient. However, the performance of the automobile market in June is the result of multiple factors of policy and market. It is expected that the trend will return to normal in the second half of the year. It is difficult for the automobile market to bring sustained upward support to the zinc market. The price of galvanized steel plate increased in July, but the increase was small, which had a limited effect on the spot zinc price. Generally speaking, the rising support of zinc market in the future is insufficient, and the driving force of continuous rise of zinc price is general. It is expected that zinc price will rise slightly in the future.
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