Zinc price trend

According to the data monitoring of the business agency, the zinc market rose step by step in August, and the zinc price was basically stable after that. As of August 31, the average price of zinc was 20273.33 yuan / ton, up 6.81% compared with 18980.00 yuan / ton on August 1 at the beginning of the month. The price of zinc fluctuated and rose in August. However, the price of zinc dropped slightly in the last ten days of August, and the daily rise and fall were less than 200 yuan / ton. The zinc price in the last ten days of August was basically stable and weakened slightly.

Manufacturing Purchasing Manager Index

According to the data released by the National Bureau of statistics, the purchasing manager index (PMI) of China’s manufacturing industry was 51.0% in August, slightly down 0.1% from the previous month, and the manufacturing industry as a whole was running smoothly. The rise of the manufacturing index indicates that economic activity is active, and the demand for zinc is high, which is slightly lower than that of last month. The growth rate in the future market may slow down, and the future demand for zinc ingot may decline.

Construction of real estate market

It can be seen from the trend chart of the construction area of the real estate market that since 2020, affected by the epidemic situation, the newly started construction area and completed area of the real estate market have decreased significantly. With the comprehensive resumption of construction and production in China, the real estate market has recovered rapidly, and the newly started area and completed area have increased significantly. Although the real estate market is gradually warming up, compared with the construction area in previous years, the growth rate of the real estate market is significantly slower, and the growth rate of the demand for zinc market is slowing down. The decrease of new construction area in the real estate market indicates that the demand for zinc in the future market is weakened, and the support for the rise of zinc price in the future market is weakened.

Analysis, review and Prospect

Bai Jiaxin, an analyst at the business agency, said: from the data of the National Bureau of statistics, China’s economy is still on the upward trend, and there is still room for the demand in the zinc market to rise. However, the real estate market is gradually warming up, and the demand for zinc market has increased significantly. However, the economic growth is slowing down, and the construction of the real estate market is decreasing. The future demand of zinc market is expected to decline, and the support for zinc price is insufficient. It is expected that the future zinc price will fluctuate and decline, and the support of zinc price will be insufficient.