Zinc price trend stops falling and stabilizes

According to the data monitoring of business news agency, the zinc price fluctuated and fell in June. From the 16th to the 21st, the zinc price fell continuously. As of June 22, the zinc price was 21986.67 yuan / ton, down 4.96% from 23133.33 yuan on June 1, and 4.46% from June 16.

International Zinc Market

According to the data released by Kazakhstan Statistics Bureau, the refined zinc output in April 2021 was 25941 tons, 5.3% less than 27391 tons in March; The cumulative output in the first four months of 2021 was 104389 tons, a year-on-year decrease of 2.6%. According to the report data released by the world Bureau of Metal Statistics (WBMs), the global zinc market will be short of 38000 tons from January to April 2021. In April 2021, the global zinc market consumption was 1.1966 million tons. In April 2021, the global zinc market output was 1146200 tons. As of the end of April 2021, the global zinc market inventory is 151000 tons. In the past 21 years, the output of global zinc market has decreased, and the demand of global zinc market is in short supply; As the first source of China’s Zinc import, Kazakhstan’s refined zinc output has declined, China’s Zinc import is difficult, and the upward pressure of zinc market has increased.

According to the latest customs data released by the General Administration of customs, in April 2020, China imported 40700 tons of refined zinc, with a month on month increase of 11.6% and a year-on-year increase of 24.2%; 0700 tons of exports, a month on month increase of 16.2% and a year-on-year decrease of 85.1%; In April, the net import of zinc ingots was 40000 tons. From January to April in 2020, the total import was 174200 tons, an increase of 51.6% year on year. Zinc import volume increased, domestic zinc market demand is strong, zinc market has rise support.

Analysis summary and Prospect

Bai Jiaxin, an analyst at business news agency, believes that: the state’s throwing reserves has stimulated the domestic zinc price to fall sharply continuously. However, from the perspective of supply and demand of the zinc market, the global zinc market is in short supply, and the zinc market is in short supply. However, the domestic zinc market has strong demand, and the overall zinc market is in short supply. The zinc market has price support, and the zinc price has limited space to fall. The state’s throwing reserves can make up for the shortage of domestic zinc market demand, However, the overall decline space of zinc market is limited, and it is expected that the future zinc market will fluctuate and stabilize.