In December, the supply and demand of zinc market was unbalanced, and the price of zinc fell

Zinc price trend

 

Benzalkonium chloride

According to the data monitoring of business news agency, the price of zinc dropped slightly in December, the demand of zinc market was general, and the market performance of zinc market was general. As of December 31, the average price of zinc was 21323.33 yuan / ton, down 1.84% from 21723.33 yuan / ton on December 1.

 

Domestic zinc monthly output

 

Date: output of current month (10000 tons) cumulative output (10000 tons) year on year growth (%) cumulative growth (%)

November 2020: 58-582.1 – 0.7-3.1

October 2020 – 58.6 – 524.2 – 9.3 – 3

September 2020: 56.5-465.6-2.9-2.1

April 31, 2020

July 2020 – 52.4 – 356.9 – 0.2 – 4.6

June 2020: 52-304.8-1.2-7.7

May 2020: 51.4 252.7 4.5 9.1

April 2020: 51.7 201.3 7.3 10.7

March 2020: 48.9 149.5 4.7 11

February 2020 — 104 — 12.9

December 2019 – 60.7 – 623.6 – 19.5 – 9.2

November 2019 – 59.4 – 569.2 – 13.1 – 9

According to the data of China National Bureau of statistics, the output of zinc decreased slightly in November, but the overall output of zinc increased in 2020, and the supply of zinc in the city is still relatively sufficient. The decrease of domestic supply of zinc in November has a certain supporting effect on the rise of zinc in the City, but the overall support is limited.

 

Manufacturing Purchasing Managers Index

 

From the PMI index trend and zinc ingot price rise and fall chart, zinc ingot trend is highly correlated with macroeconomic trend. During the period of macroeconomic recovery and rise, zinc price is likely to rise, and zinc market has sufficient power to rise. According to the data released by the National Bureau of statistics, the purchasing manager index (PMI) of China’s manufacturing industry was 51.9% in December. Although it was 0.2 percentage point lower than last month, it was above the critical point for 10 consecutive months, indicating that the manufacturing industry continued to recover steadily. The macro-economic index rebounded, the demand of zinc market rose, the zinc market was generally good, but the rising momentum weakened.

 

Import and export data of zinc products

 

Export (RMB 10000) and import (RMB 10000) were ±% over the same period last year

Monthly quantity ﹣ current year cumulative quantity ﹣ monthly quantity ﹣ current year cumulative quantity ﹣ export ﹣ import

January 2019 – zinc and its products – 13747 13747 149311 149311 24.5 – 14.1

February 2019 – zinc and its products – 7004 20767 49626 198936 – 4.5 – 26.7

March 2019 – zinc and its products – 10400 31164 121449 320385 – 7.7 – 14.9

April 2019 – zinc and its products – 11097 42035 175192 495577 – 8.5 5.4

May 2019 – 12385 54423 139800 635348 – 11.1-3

June 2019 – zinc and its products – 25686 – 80135 – 132032 – 767326 – 3.6 – 7

July 2019 – zinc and its products – 38507 118653 101923 869371 26.9 4.5

August 2019 – zinc and its products – 20777 139402 141244 1010615 30 6.6

September 2019 – zinc and its products – 14268 153670 80799 1091454 25.4 – 0.6

October 2019 – zinc and its products – 21319 174932 98273 1189390 30.2 – 6.4

November 2019: zinc and its products 32531 207394 101435 1292566 39.1 – 14.4

December 2019 – zinc and its products – 23286 – 229131 – 148593 – 1441230 – 40.1 – 15.7

January to February 2020: zinc and its products 29057 137093 41.3 – 31.2

March 2020: zinc and its products: 17123 46174 80479 217620 50.5 – 32.4

April 2020: zinc and its products 15395 61569 84595 302215 48.1 – 39.3

May 2020 – zinc and its products 13335 75013 94772 396988 39.1 – 37.6

June 2020: zinc and its products: 13774 88788 132810 529798 11.8 – 30.9

July 2020: zinc and its products: 13351 102139 106681 636479 – 13.2 – 26.7

January, 2020

September 2020: zinc and its products: 11818 126230 139195 895768 – 17.1 – 17.8

October 2020: zinc and its products: 12744 138974 149146 1044914 – 19.9 – 12.1

November 2020: zinc and its products 13683 152657 163603 1208517 – 25.8 – 6.3

According to the data of the General Administration of Customs of China, the export amount of zinc and its products in November 2020 was 136.83 million yuan, and the total export amount from January to November was 1526.57 million yuan; the import amount in November was 163.03 million yuan, and the total import amount from January to November was 12085.17 million yuan. Exports dropped by 25.85% and 6.3% respectively. It can be seen from the table that China’s export of zinc and its products decreased significantly in November, but the import increased instead of decreasing. The domestic zinc market was in sufficient supply, and the overall zinc market oversupply increased.

 

Analysis summary and Prospect

 

Bai Jiaxin, an analyst at business news agency, said: the demand of zinc market in December was relatively stable, but on the supply side, due to the import volume of zinc and its products increased greatly, the domestic zinc market oversupply increased, the domestic zinc market supply and demand imbalance, zinc price rising momentum was insufficient, and the downward pressure increased, and zinc price fell slightly in December. However, with the weakening of the impact of the international epidemic, the global zinc mines gradually returned to normal operation, the global supply of zinc increased, the supply of zinc was sufficient, and the rising space of zinc price was limited. Zinc price is expected to rise slightly in the future.

http://www.lubonchem.com/

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