Zinc prices fell sharply this week
| Benzalkonium chloride |
According to the data monitoring of the Business News Agency, the zinc price was 22998 yuan/ton as of February 13, down 4.26% from 24022 yuan/ton on February 5 last weekend. The demand for zinc in futures is still weak due to the large increase in inventory, and the price of zinc fell in shock this week.
LME zinc ingot inventory surged this week
Time/ London Futures Inventory/ Increase or decrease/ Proportion of change
February 6/ 16225./ -150./ -0.92%
February 7/ 15600./ -625./ -3.85%
February 8/ 19425./ 3825./ 24.52%
February 9/ 21375./ 1950./ 10.04%
February 10 26250./4875./22.81%
From the LME inventory statistics table, LME zinc ingot inventory surged this week. As of February 10, LME’s zinc inventory was 26250 tons, a sharp increase from 16225 tons of zinc ingot inventory on February 6. London’s zinc inventory increased, and the London zinc price fell sharply on Friday. With the end of the winter heating peak in Europe, the operating rate of zinc smelting in Europe is expected to rise, and the supply of international zinc market is expected to increase; The supply of zinc is sufficient and the downward pressure is high.
Supply and demand situation of domestic zinc market
| Sodium Molybdate |
According to the results of incomplete output statistics, the output of zinc and zinc alloy of sample enterprises in January 2023 was 460000 tons, an increase of 1.3% on a year-on-year basis, an increase of 4000 tons on a month-on-month basis, and an increase of 0.6% on a month-on-month basis. The output of domestic zinc market increased, and the supply of zinc market was sufficient. After the Spring Festival, Henan Zinc Plant was put into operation, the supply of zinc market increased, and the social zinc inventory accumulated. Many places in China introduced economic stimulus policies, and the downstream demand recovered, but the demand is still weak at this stage. The supply and demand of zinc market is weak, and the downward pressure of zinc market is high.
Aftermarket forecast
According to the data analyst of the Business News Agency, in terms of supply, LME zinc inventory increased significantly this week, the supply of zinc in Europe increased, and the supply of domestic zinc market was stable; In terms of demand, the downstream demand has warmed up, but it is less than expected, and the overall zinc market demand is still weak. In the future, the supply and demand of zinc in the market will be weak in the short term, and the pressure on the price of zinc will increase. It is expected that the price of zinc will fall in shock.
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