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Week of zinc review: the market demand is weak weak zinc prices rise

by:Deyuan      2020-12-23
A zinc, the spot moves

on September 30th September 26 solstice, spot zinc prices continue to rise, 0 # zinc week the average price is controlled in 18090 yuan per ton, the previous week the average price per ton to 18010 yuan, up 80 yuan/ton, sequential or 0. 44%; Spot 0 # zinc week the average price is controlled in 18452 yuan per ton, the previous week the average price per ton to 18386 yuan, up 66 yuan/ton, sequential or 0. 36%; High zinc prices to buyers, the downstream demand, buyers cautious wait-and-see, volume is still light.






2, zinc futures trend

- on October 3rd On October 7, zinc weaker trend, weeks average of about $2358, were closed due to domestic market, combined with the inventory for three consecutive days during the National Day Aaron zinc increased dramatically, zinc trend decline; On October 7th night at 8:30, beautiful new September non-farm payrolls growth slowing down rates the fed years prospects and Aaron zinc vibration closed up slightly.



on September 30th September 26 solstice, domestic and foreign macro data are bullish, zinc enterprise maintenance to resume production in succession, the shortage of zinc expectations are not change, zinc base for good, Shanghai zinc maintain rise trend, whole weeks are settled at 17981 yuan, the main operation price range of 17800 - last week 18200 yuan/ton.




3, zinc inventory analysis



as of October 7, according to analyst Aaron zinc inventory to 457425 tons, 18075 tons more than a week before, the growth of 4. 11%; Shanghai futures exchange this week zinc total stock of 158317 tons, 16955 tons less than last week, a drop of 9. 67%.
the world metal statistics ( WBMS) September 21, according to data released 1 - The global zinc supply shortage in July 10. The excess supply of 60000 tons, 2015 to 16. 70000 tons. This year 1 - In July 5000 fewer tons of inventory report. LME stocks fell 1 July. 20000 tons, the late July inventory fell 3 at the end of 2015. 20000 tons. LME stocks accounted for 40% of total global inventories. 1 - In July China demand of zinc increases from a year earlier. 0%, output fell by 0. 6%

this week four, macro information

domestically: on September 30, the Treasury, according to data released 1 - this year In August, China's state-owned enterprises continued growth of revenue and profits continue to decline over the previous year, the decline than narrow 5 last month. 2%; Steel and non-ferrous industries continue to loss.
international aspects: this Friday, On October 7) In September, according to the data published and the addition of 15. 17 60000 non-agricultural workers, less than expected. 20000 people; September 5% unemployment, expectations are equal on August 4. 9%; The average hourly wage increase compared to the 2 September. 6%, with expectations; The European commission on Thursday ( On September 29) Released figures showing that the euro zone economic sentiment index is far better than expected in September, in September thanks to Germany, France, Italy, Spain and the Netherlands, the confidence of the economic climate index rebound in major economies.

this week five, zinc dynamic
1, the new star company in Belgium on Tuesday ( On September 27) Announcement, the company is preparing to Middle Tennessee ore and production work, the mine production in early December 2015 in maintenance. Given the current price of zinc level and good expectations of sustainability, xinxing company thinks now is to restart Middle Tennessee mine ( Zinc containing three underground mining) And the moment of the good time, the move is expected to bring to the company a good cash income. Because zinc prices higher smelting zinc concentrate supply optimization and the company will make the company produces a good cash flow.
2, xinjiang mine bureau announced on September 25, flaming cloud area in hetian county in xinjiang's hotan region, found a reserves of nearly 19 million tons of world-class super-large lead-zinc deposit, it is also found at present, China's largest reserves of lead-zinc mine. According to introducing, the mining area is located in an altitude of 5500 meters above the plateau areas, an area of 6. 6 square kilometers. Orebody with large thickness, shallow burial and high grade, lead-zinc mine resources reserves of 1894. 960000 tons, which can be used in industrial mining reserves of 1887. 370000 tons, the total reserves of 99. 6%.


6, zinc prices afternoon looking
the non-agricultural report growth slowing down year by the federal reserve raising interest rates, the basic plane shortage is still effective supporting zinc prices, but during the National Day, Aaron zinc inventory for three consecutive days greatly increased according to market demand, as of October 7, Aaron zinc inventory to 457425 tons, 18075 tons more than a week before. The zinc price is high, the downstream first more wait-and-see attitude, a strong appetite left investors locking in a profit, zinc smelter normal price, shipment of traders actively, but more is given priority to with long single delivery, fewer market volume. During the National Day Aaron zinc on downward trend, but on the macro zinc long-short factors interweave, zinc momentum up less than the early next week is expected to Shanghai or to consolidate.
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