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Zinc weekly review: interest rates risks remain two city of zinc or co. , LTD. ( 5. 23 - 5. 27)

by:Deyuan      2020-12-23
Core tip: zinc or limited, expects the next cycle interval 1800 - Aaron zinc attention $1950 / ton, Shanghai zinc main 1607 contract 1. 43 - 1. 550000 yuan/ton, in operation, on the sidelines.

a, market review

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

week dragged down by China's trade data and a stronger dollar negative, two cities of zinc continued decline last week, Aaron zinc weeks minimum hit $1809 / ton, Shanghai zinc main 1607 contract the lowest 14445 yuan/ton, the second half of the week in investors buying low, driven by zinc period began to rebound, zinc briefly approached $1900 / ton level, and is now below $1900 / ton, Shanghai main of zinc 1 weeks breakthrough. 50000 yuan/ton, 1 now. Near 50000 yuan/ton, the whole, Aaron zinc weeks or more than 1%, the Shanghai main of zinc nearly flat, appear very weak situation. Inventory, zinc LME inventories weeks decline is not large, zinc demand is weak, this week fell about 1500 tons, is now reported to 38. About 50000 tons. Zinc concentrate market

figure 2: zinc concentrate on charts

domestic zinc concentrate ( 50%, tax included) Price after suppression Yang first, as of Friday's 9200 - yunnan zinc concentrate 9400 yuan/tons of metal, 9950 - hunan zinc concentrate 10150 yuan/tons of metal, gansu province, 9700 - 9900 yuan/tons of metal, 9600 - in guangxi 9800 yuan/tons of metal, unchanged from last week's offer. Weak domestic demand for zinc, downstream smelter purchasing zinc concentrate enthusiasm is not high, and the price is not high, zinc miner work enthusiasm is low, zinc concentrate market transaction insipid, according to the purchase order. In addition, dragged down by weak domestic demand, import zinc volume decline, April China imported 147138 tons of zinc ore, dipping 23. 77%, reduce compared to 36. 82%. The spot market


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

in the Shanghai area this week 0 # zinc market ups and downs, weeks hit 14520 - the lowest since April 13th 14620 yuan/ton, smelter and rised trader sentiment, the market supply of goods, now the zinc to continue to expand, Shanghai main of zinc premium with the second half of the week period zinc stronger back, now in the Shanghai area 0 # 14820 - zinc 14920 yuan/ton, down from last week 30 yuan/ton, zinc liter discount discount for 50 - now Liters of 50 yuan/ton, weeks the market clinch a deal. Guangdong area, now offer 14540-0 # zinc 14840 yuan/ton, last week cut 50 yuan/ton, market trading, low downstream receiving more actively. Tianjin region, now offer 15000-0 # zinc 15100 yuan/ton, weekly decline 40 yuan/ton, trading atmosphere insipid.

3, afternoon to predict

recently by investors buying low and a weak dollar, two cities of zinc lows, but in June the fed to raise interest rates risks, as well as domestic demand off-season zinc city, later risk of zinc prices have dropped, pay attention to the late economic data of China and the United States. Zinc or limited, expects the next cycle interval 1800 - Aaron zinc attention $1950 / ton, Shanghai zinc main 1607 contract 1. 43 - 1. 550000 yuan/ton, in operation, on the sidelines.
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