Zinc prices fell sharply this week
According to the data monitoring of the business agency, the zinc price fell sharply this week, and the zinc market fell back. As of May 16, the price of zinc was 25530 yuan / ton, down 2.94% from 26304 yuan / ton on May 9 at the beginning of the week; Compared with May 1 at the beginning of the month, the price of zinc was 27742 yuan / ton, down 7.97%. The supply of zinc market recovered and the demand was poor, and the zinc price fluctuated and fell this week.
| PVA 1799 (PVA BF17) |
Zinc ingot inventory in LME market continued to decline
Time, LME zinc inventory, Increase or decrease, Proportion of change, Register warehouse receipt, cancelled warrants
April 29, 95350., – 925., – 0.96., 33700., sixty-one thousand six hundred and fifty
May 3, 95350., 0 0 34475., sixty thousand eight hundred and seventy-five
May 4, 94075., – 1275., – 1.34., 34475., fifty-nine thousand and six hundred
May 5, 93175., – 900., – 0.96., 34475., fifty-eight thousand and seven hundred
May 6, 94375., 1200., 1.29., thirty-six thousand and fifty ., fifty-eight thousand three hundred and twenty-five
May 9, 92575., – 1800., – 1.91., 36050., fifty-six thousand five hundred and twenty-five
May 10, 89300., – 3275., – 3.54., 36125., fifty-three thousand one hundred and seventy-five
May 11, 88475., – 825., – 0.92., 36625., fifty-one thousand eight hundred and fifty
May 12, 86375., – 2100., – 2.37., 36000., fifty thousand three hundred and seventy-five
May 13, 86550., 175., 0.2., 37900., forty-eight thousand six hundred and fifty
May 16, 86225., – 325., – 0.38., 38325., forty-seven thousand and nine hundred
From the zinc ingot inventory data of LME market, it can be seen that the zinc ingot inventory in LME market stopped falling and stabilized this week, the number of registered warehouse receipts increased significantly, and the number of cancelled warehouse receipts decreased significantly. The supply of zinc is expected to increase, the rising power of zinc price is weakened, and the downward pressure is great.
| PVA |
Zinc supply increases
In April, the average daily output and total monthly output of zinc sheet of Yunnan Copper Zinc Industry Company reached 303444 tons and 9406764 tons respectively, a new high in six years. The supply of zinc increased and the demand recovered slowly. It is expected that the zinc price will fluctuate and fall in the future.
Future forecast
In terms of zinc ingot supply, analysts believe that the zinc market is expected to recover this week, but the supply of zinc ingots is lower than that of the global zinc market, and the supply of zinc ingots is expected to recover this week. However, analysts believe that the zinc market is expected to recover, while the supply of zinc ingots is expected to recover this week. In the future, the supply growth and demand of zinc market were lower than expected, and the zinc price stabilized after falling.
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