Zinc prices fell slightly in February
According to the data monitoring of business agency, the zinc market fell in February, and the zinc price fluctuated slightly. As of February 28, the price of zinc was 25010 yuan / ton, down 1.36% from 25354 yuan / ton on February 1 at the beginning of the month. In February, zinc ingot inventory in zinc city increased and zinc price fluctuated and fell.
| EDTA |
Zinc ingot inventory in Shanghai futures market increased sharply
Time Futures inventory . Increase or decrease
February 7 fifty-six thousand six hundred and eighteen . 0
February 8th . fifty-eight thousand and seventy-seven one thousand four hundred and fifty-nine
February 9th . sixty-four thousand and eighty-one . six thousand and four
February 10 sixty-seven thousand three hundred and forty-seven three thousand two hundred and sixty-six
February 11 seventy-four thousand six hundred and fifteen . seven thousand two hundred and sixty-eight
February 14 eighty-nine thousand two hundred and sixty point one four six four five
February 15 ninety-six thousand eight hundred and forty-seven . seven thousand five hundred and eighty-seven
February 16th . one hundred and three thousand eight hundred and ninety-six seven thousand and forty-nine
February 17th . one hundred and four thousand one hundred and twenty-one . two hundred and twenty-five
February 18th . one hundred and four thousand nine hundred and fifty-seven eight hundred and thirty-six
February 21 one hundred and four thousand eight hundred and eighty-three .- seventy-four
February 22nd . one hundred and five thousand three hundred and ninety-seven five hundred and fourteen
February 23rd . one hundred and six thousand and forty-nine six hundred and fifty-two
February 24th . one hundred and eight thousand and seventy-seven two thousand and twenty-eight
February 25th . one hundred and eight thousand five hundred and fifty-three four hundred and seventy-six
February 28th . one hundred and six thousand nine hundred and forty-six .- one thousand six hundred and seven
According to the zinc ingot inventory data sheet of Shanghai futures market, as of February 28, the zinc ingot futures inventory of Shanghai futures market was 106946 tons, the zinc ingot inventory increased by more than 50000 tons in February, the zinc ingot inventory decreased slightly on February 28, the inventory of Shanghai futures market increased greatly, the supply of zinc market was sufficient, the upward support of zinc price was weakened, and the downward pressure of zinc price increased.
Russia Ukraine conflict affects European oil and gas supply
| Melamine |
Across Eurasia, Russia is extremely rich in oil and gas resources, and its oil and gas production ranks third and second in the world respectively. And because of its relatively limited consumption, it exports a large number to Europe and Asia. It is an important exporter of global oil and gas resources. The worsening conflict between Russia and Ukraine and the sanctions imposed by Europe and the United States on Russia will affect the energy supply in Europe and even the world. The European natural gas market will also be hit hard. Considering that Russia’s natural gas exports to Europe (pipeline gas + LNG) account for nearly 1 / 3 of its total demand, if the natural gas supply from Russia is seriously blocked, the already high European gas price will soar again. The price of natural gas rises, the cost of zinc smelting rises, the output of zinc ingots in Europe is expected to decrease, and the supply of zinc in the future is expected to decrease.
Future forecast
Business analysts believe that: in February, the inventory of zinc ingots in Shanghai futures market increased greatly, the supply of zinc market increased, and the price of zinc fluctuated and fell. With the intensification of the conflict between Russia and Ukraine, the zinc ingot inventory in Shanghai futures market has declined, the output of zinc ingots in Europe is expected to decrease, the supply of zinc in the future market is expected to decrease, and the zinc price is expected to rise slightly.
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