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Zinc weekly review: focus on non-agricultural data of zinc uplink probability ( 8. 1 - 8. 5)

by:Deyuan      2020-12-23
Core tip: Aaron zinc on interval 2200 - next week $2350 / ton, Shanghai zinc main 1610 contract concerns interval 1. 7 - 1. 80000 yuan/ton, in operation, and holds more than single.

a, market review

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

two city of zinc after magnified, first half weeks due to a weaker dollar and market financing, zinc rise gradually, Aaron zinc high refresh years to $2299 / ton, Shanghai zinc main 1610 contract rose 17605 yuan/ton, the second half of the week because of the dollar, the two cities of zinc highs, and the United States non-agricultural before, investors were cautious, part away long locking in a profit, so far Aaron zinc volatile near $2270 / ton, weeks, or about 1%, Shanghai zinc main 1610 contract now near 17400 yuan/ton, weekly gains of about 3%. Inventory, LME stocks continue to decline, but the weeks of decline is less than 3000 tons, is 430000 tons, 2528 tons of zinc by reduced inventory of the previous period, this week in Shanghai zinc reduced inventory of 6702 tons, an increase of 3658 tons of guangdong area. Zinc concentrate market

figure 2: zinc concentrate on charts

domestic zinc concentrate ( 50%, tax included) Slightly lower price gains of the early, the second half of the week, as of Friday's 11900 - yunnan zinc concentrate 12100 yuan/tons of metal, 12200 - hunan zinc concentrate 12400 yuan/tons of metal, gansu province, 12000 - 12200 yuan/tons of metal, 12200 - in guangxi 12400 yuan/tons of metal, raised 300 yuan/tons of metal from last week. Around the stricter environmental protection, enterprises are strictly prohibited to make construction, zinc concentrate market supply is tight, but as zinc prices spiralling, both at home and abroad for mining companies are expected to production shut down prices, but still no short term. Downstream smelter for zinc concentrate prices too high inventory enthusiasm is not high, how to seek low-cost supply of goods. The spot market


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

spot zinc prices rise before they fell this week, the overall increase from last week. In the Shanghai area now offer 17200-0 # zinc 17300 yuan/ton, up from last week 310 yuan/ton, delivery positive week smelter and traders, but the downstream enterprises and high market will pick up the goods from zinc is not strong, with zinc prices fell back, some manufacturers inventory, but the market overall trading co. , LTD, zinc to Shanghai main zinc premium for premium 110 - Premium of 10 yuan/ton. Guangdong area, south store now offer 16860-0 # zinc 17160 yuan/ton, compared with last week raised 360 yuan/ton, the market trading atmosphere insipid. Tianjin region, 17240-0 # 17340 yuan/ton, weeks or less than Shanghai, guangdong area, about 270 yuan/ton, market supply adequate, clinch a deal.

3, afternoon to predict

two city of zinc has strong, rising global zinc supply shortage is still the main source of power, the other market watch the late stage of zinc, bull market is obvious. Can not be changed in the short term, the zinc supply shortages, will continue to support of zinc continue to rise, and from the technical side, of zinc uplink probability is big, pay attention to the non-agricultural data tonight. Aaron zinc on interval 2200 - next week $2350 / ton, Shanghai zinc main 1610 contract concerns interval 1. 7 - 1. 80000 yuan/ton, in operation, and holds more than single.
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