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Zinc prices rebounded this week, clinch a deal the weak downstream

by:Deyuan      2020-12-23
Summary of the futures market.
zinc LME prices this week, Monday at $2240 / ton, price high consolidation, the minimum opening price, the highest $2299 / ton, near the closing at 2266 dollars. Rose this week 19. 0 $50, rise. 87%. Shanghai zinc main 1609 rose this week, Monday at 17050 yuan/ton, rose on Friday, Monday and Tuesday, and Wednesday fell on Thursday, the highest 17605 yuan/ton on Wednesday. Friday's close to 17435 yuan/ton, up 500 points this week, or 2. 95%. Spot market overview:

this week Shanghai trading center (metal extraction solution The original WuMao colored spot market) The spot price quote in 17060-0 # zinc 17590 yuan/ton, price change is not big, 1 # is not available recently. Spot zinc liter discount is slightly, registered brand 0 # 1608 liter discount offer C20 - contract C80, between double c10 - yan C60, common in C20-0 # C90, ordinary 0 # brand is plentiful, 1 # zinc is not available, import zinc sources accounted for about 20%, AZ, SMC in c40 - c140。 This week, the market supply is adequate, but demand is still weak, clinch a deal the relatively poor compared with last week this week, mainly because of prices rose slightly, clinch a deal is poorer, Monday and Tuesday, Wednesday, Thursday, mainly due to the relatively stable prices, into the downstream procurement, as needed. Of zinc prices today, near the weekend, just need to purchase, clinch a deal the weaker compared with yesterday. Traders, some traders bedding bag, activity. Smelters positive delivery, mainly due to higher prices. Overall clinch a deal this week. According to the research results of metal extraction solution center, most traders in the futures market volatility.
【 Center point 】
a macro level, the bank of England cut interest rates announced in local time on August 4, and 170 billion pounds ( $1. 48 trillion yuan) Stimulus measures to cope with the British referendum decided to quit the eu's impact. Overall, the market continued easing expectations rise, boost commodities. Spot the fundamental level, weak downstream purchases this week, demand off-season, the downstream demand is still stable. Main technical point of view, zinc lme3 and Shanghai high and volatile, prices could continue to maintain.
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