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Week of zinc review: fundamentals of zinc uplink probability ( 8. 15 - 8. 19)

by:Deyuan      2020-12-23
Core tip: Aaron zinc on interval 2200 - next week $2400 / ton, Shanghai zinc main 1610 contract 1. 7 - 1. 80000 yuan/ton, in operation, and continue to hold more than single.

a, market review

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

weeks zinc is strong, shake up, Shanghai zinc main 1610 contract affected by week crash underperformed Aaron zinc, but with bad news digest up last week, and the federal reserve ( 美联储) Meeting records show that policymakers are not eager to raise interest rates after the weaker dollar, the two cities of zinc gradually strengthened, zinc close to recent highs of $2309 / ton, now $2280 / ton, near weeks or more than 2%, Shanghai main zinc weeks up to 17605 yuan/ton, now near 17450 yuan/ton, weeks, or about 0. 2%. Stock aspect, this week the LME stocks resumed declines, fell by more than 1000 tons, now 45. About 70000 tons. Zinc concentrate market

figure 2: zinc concentrate on charts

domestic zinc concentrate ( 50%, tax included) The price movements of weeks the ups and downs, as of Friday's 12100 - yunnan zinc concentrate 12300 yuan/tons of metal, 12400 - hunan zinc concentrate 12600 yuan/tons of metal, gansu province, 12200 - 12400 yuan/tons of metal, 12400 - in guangxi 12600 yuan/tons of metal, were flat last week. Domestic environmental protection check strict, zinc concentrate supply tightening, known since this week, hunan lead and zinc mine all halt production cost through county, local shortages worse. In our country because of shortage of global zinc ore import zinc concentrate processing fee and declining domestic zinc concentrate processing fee, import ore processing fee has fallen to 100 - $120 per dry metric ton, the domestic zinc concentrate processing fee down to under 5000 yuan/tons of metal. The spot market


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

this week spot zinc prices fluctuated violently, the Shanghai area of the early mainstream 0 # zinc fell 270 yuan/ton, with weeks of zinc rebound recovered some losses, as of Friday's 17410 - 17510 yuan/ton, down 20 yuan/ton, from last week week for zinc prices tumbled and downstream manufacturer inventory is more, but as zinc prices rise, the purchasing businessmen to reduce, rised some smelter's price, the market supply rare double yan brand zinc ingots, zinc is now to expand Shanghai zinc main 1610 contract premium to 10 - litres of water Litres, 110 yuan/ton. Guangdong area, south store now offer 17030-0 # zinc 17330 yuan/ton, down from last week 80 yuan/ton, weeks traders receiving positive and good market clinch a deal. Tianjin region, reported 17520-0 # zinc 17620 yuan/ton, compared with last week raised 30 yuan/ton, the market price is strong, clinch a deal.

3, afternoon to predict

the market to digest bad news last week that the recent period of zinc volatile agents, and zinc in short supply for zinc prices still rising form support, is expected next week, two city of zinc continuation of the recent rally, focus on the early pressure. Aaron zinc on interval 2200 - next week $2400 / ton, Shanghai zinc main 1610 contract 1. 7 - 1. 80000 yuan/ton, in operation, and continue to hold more than single.
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