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Review: zinc weeks upward pressure may fall (next week 7. 11 - 7. 15)

by:Deyuan      2020-12-23
Core tip: Aaron zinc on interval 2100 - next week $2250 / ton, Shanghai zinc main 1609 contract concerns interval 1. 65 - 1. 750000 yuan/ton, in operation, long profit.

a, market review

figure 1: zinc rich treasure 0 #, Shanghai zinc, zinc LME charts

as a weaker dollar and monetary easing expectations have increased, the two cities this week period to continue upward, zinc are high in early breakthrough, refresh again high, hitting 2210 weeks Aaron zinc. 5 dollars/tons, currently around $2200 / ton, weeks or 2. More than 5%, Shanghai zinc main 1609 contract weeks touched to 17200 yuan/ton, the highest 1 now. Fluctuate near 70000 yuan/ton, up more than 3%. Keep on rising because of zinc and part of the long profit, upward pressure is big, this week, the second half of the cycle than half Zhou Qiangjin zinc movements. Inventory, zinc LME inventories weeks decline is not large, only more than 1000 tons, presently for 43. Near 90000 tons. Zinc concentrate market

figure 2: zinc concentrate on charts

the domestic price of zinc concentrate ( 50%, tax included) With zinc prices continue to rise, as of Friday's 11500 - yunnan zinc concentrate 11700 yuan/tons of metal, 11800 - hunan zinc concentrate 12000 yuan/tons of metal, gansu province, 11600 - 11800 yuan/tons of metal, 11800 - in guangxi 12000 yuan/tons of metal, raised 550 yuan/tons of metal from last week. Affected by small and medium sized mines shut down, the domestic zinc concentrate market supply of goods is a bit tight, parts of zinc concentrate processing fee again. In addition, foreign zinc supply crunch phenomenon continues, import zinc volume decline in our country, it is understood that in the first half of this year our country lianyungang import zinc 22. 20000 tons, compared with the sharp drop in 52. 87%, cargo weight less than fifty percent over the same period last year. The spot market

table 1: the spot price ( Unit: yuan/ton)

this week, the spot market zinc prices rise rapidly, as of Friday in the Shanghai area 0 # 16820 - zinc 16920 yuan/ton, up from last week 620 yuan/ton, zinc prices continued high, ship smelters and traders enthusiasm high, but downstream manufacturers purchase cautious wait-and-see attitude, the current main of zinc zinc to Shanghai discount for post - 130 30 yuan/ton, market trading volume in Shanghai this week. Guangdong area, is now south store report 16510-0 # zinc 16810 yuan/ton, compared with last week raised 630 yuan/ton, off-season downstream demand is poor, poor sales, ample supply of goods. Tianjin region, now offer 16840-0 # zinc 16940 yuan/ton, up from last week 550 yuan/ton, the market trading atmosphere, clinch a deal between traders.

3, afternoon to predict

two city high zinc refresh repeatedly, but not zinc in the real economy city needs to improve, of zinc rose by agencies to promote buying more likely, with continuous rising of zinc, upward pressure increases, the other from the technical side, short of zinc may fall. Aaron zinc on interval 2100 - next week $2250 / ton, Shanghai zinc main 1609 contract concerns interval 1. 65 - 1. 750000 yuan/ton, in operation, long profit.
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