Zinc prices rose in March
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According to the data monitoring of the business agency, the zinc market recovered in March, and the zinc price fluctuated and rose. As of March 31, the price of zinc was 26722 yuan / ton, up 6.45% from 25102 yuan / ton on March 1 at the beginning of the month. In the first ten days of March, the price of zinc fluctuated and adjusted significantly, and the price of zinc fluctuated and rose in the middle and late ten days. Overall, the supply and demand of zinc market are both weak, and the zinc price fluctuates and rises.
Zinc ingot inventory in Shanghai Futures Market
Time, Futures inventory ., Increase or decrease
March 1, one hundred and six thousand three hundred and twenty .,- six hundred and twenty-six
March 2, 106320., 0
March 3rd ., 109258., two thousand nine hundred and thirty-eight
March 4, one hundred and ten thousand nine hundred and forty-eight ., one thousand six hundred and ninety
March 7, one hundred and fourteen thousand six hundred and fifty-one ., three thousand seven hundred and three
March 8, one hundred and seventeen thousand six hundred and sixty-six ., three thousand and fifteen
March 9, one hundred and seventeen thousand nine hundred and forty-two ., two hundred and seventy-six
March 10th ., 118935., nine hundred and ninety-three
March 11, one hundred and twenty-one thousand eight hundred and ninety-five ., two thousand nine hundred and sixty
March 14, one hundred and twenty-five thousand five hundred and six ., three thousand six hundred and eleven
March 15th ., 130267., four thousand seven hundred and sixty-one
March 16, 131221., nine hundred and fifty-four
March 17, 130393., – eight hundred and twenty-eight
March 18, one hundred and thirty thousand two hundred and forty-four .,- one hundred and forty-nine
March 21, one hundred and twenty-nine thousand three hundred and forty-two .,- nine hundred and two
March 22, one hundred and twenty-eight thousand and twelve .,- one thousand three hundred and thirty
March 23, 126728., – one thousand two hundred and eighty-four
March 24, 125952., – seven hundred and seventy-six
March 25th ., 125723., – two hundred and twenty-nine
March 28, one hundred and twenty-five thousand five hundred and twenty-three .,- two hundred
March 29, one hundred and twenty-five thousand two hundred and sixty-nine .,- two hundred and fifty-four
March 30, one hundred and twenty-five thousand one hundred and sixty-nine .,- one hundred
March 31, one hundred and twenty-four thousand four hundred and eighty-five ,.- six hundred and eighty-four
According to the zinc ingot inventory data sheet of Shanghai futures market, it can be seen that the rise of zinc inventory in March slowed down. Since March 17, the zinc ingot futures inventory in Shanghai futures market has continued to decline. As of March 31, the zinc ingot inventory in Shanghai futures market has decreased, the supply of zinc in Shanghai has decreased, the downward pressure of zinc price has weakened, and the upward momentum has increased.
The conflict between Russia and Ukraine continues to affect the supply of zinc in the city
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Since the end of February, the conflict between Russia and Ukraine has continued to ferment, the price of natural gas in Europe has soared, and the cost of zinc smelting has risen, affecting the supply of zinc market. The future supply of zinc market is expected to decrease, and the rising power of zinc market has increased. Subsequently, the conflict between Russia and Ukraine eased, the high price of natural gas in Europe fell, and the cost of zinc smelting decreased. However, the cost of zinc smelting is still high, the supply of zinc market is expected to decrease, and the rising power of zinc market still exists.
Domestic epidemic hit zinc City
The epidemic has spread again in China. The capricious epidemic has destabilized the metal market, resulting in insufficient supply of raw materials and blocked logistics transportation, which continues to interfere with the normal operation of the supply chain, seriously affecting the production of local enterprises. The construction of downstream enterprises in zinc city has decreased, and the overall demand of zinc city is weak.
The epidemic affects domestic production and operation
According to the data released by the National Bureau of statistics, the purchasing manager index (PMI) of China’s manufacturing industry was 49.5% in March, down 0.7 percentage points from the previous month, lower than the critical point, and the overall prosperity level of the manufacturing industry fell somewhat. The emergence of aggregated public health events in many places in China and the significant increase of international geopolitical instability have affected the production and operation activities of Chinese enterprises to a certain extent. In March, the manufacturing purchasing manager index, non manufacturing business activity index and comprehensive PMI output index all fell below the critical point, and the overall prosperity level of China’s economy fell back. The decline of the overall economic level has affected the supply and demand of zinc market, and the overall zinc market has weakened. With the epidemic under control, the suppressed production and demand will gradually recover, and the market is expected to pick up. Zinc market demand is expected to pick up in the future.
Future forecast
Business analysts believe that: in early March, affected by the conflict between Russia and Ukraine, zinc prices soared and plummeted; Since the middle of the year, with the relative easing of the conflict between Russia and Ukraine, the high zinc price has dropped. Since the middle and late days, but with the recurrence of the domestic epidemic, the supply and demand of zinc price are weak, the overall supply is in short supply, and the zinc price fluctuates and rises. Generally speaking, the supply of zinc in the future market is expected to decrease, the demand of zinc in the future market recovers slowly, the bad situation in zinc market weakens and the good situation increases, and the zinc price fluctuates and rises in the future market.
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