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Zinc weekly review: next week, two city of zinc or after magnified (first 10. 10 - 10. 14)

by:Deyuan      2020-12-23
Core tip: two cities of zinc or bounce back next week, the interval 2230 - Aaron zinc attention $2330 / ton, Shanghai zinc main 1612 contract 1. 74 - 1. 830000 yuan/ton, in operation, long waited for admission.

a, market review

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


post-holiday helped by domestic purchases, two cities of zinc rose, but then dropped sharply, as the dollar continued to rise and leave long locking in a profit, and lower expectations of further fed rate rises and China import and export data also depress zinc prices, Aaron zinc lost 60 day moving average, Shanghai zinc main 1612 contract under wear rebound after 60 - day moving average, is now confined 40 day moving average. Weeks Aaron zinc minimum to 2210 dollars/tons, is now near $2250 / ton, weekly decline more than 3%, the Shanghai main of zinc to 17520 yuan/ton, lowest now swings above 17800 yuan/ton, weekly decline more than 2%. Inventory, zinc section inside the LME inventories increased to 45. More than 70000 tons, down more than 1000 tons of this week, now 45. About 60000 tons. Zinc concentrate market

figure 2: zinc concentrate on charts

domestic zinc concentrate ( 50%, tax included) Price with zinc prices downward, as of Friday's 13100 - yunnan zinc concentrate 13300 yuan/tons of metal, zinc concentrate in hunan - 13400 13600 yuan/tons of metal, gansu province, 13200 - 13400 yuan/tons of metal, 13400 - in guangxi 13600 yuan/tons of metal, a first fell 50 yuan/tons of metal. Zinc concentrate are high prices, mining companies start kinetic energy, but subject to environmental stress, enterprise capacity constraints, the current domestic market supply of zinc concentrate is still tense, some parts of the zinc concentrate processing fee has fallen to 4400 yuan/tons of metal. In addition, some domestic zinc enterprise in higher prices, plans to increase production of zinc, the later the global zinc supply crunch is expected to ease. The spot market


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

spot zinc prices this week, as of Friday in Shanghai mainstream newspaper 17920-0 # zinc 18020 yuan/ton, down from last week 270 yuan/ton, with zinc prices fall, the downstream manufacturers purchase from zinc actively, market trading atmosphere gradually active, traders offer strength, the zinc to expand to Shanghai main of zinc premium 100 - 200 yuan/ton, the market clinch a deal the overall is good. Guangdong area, south store now offer 17540-0 # zinc 17840 yuan/ton, down 280 yuan/ton last week, the market supply adequate, trading fair, clinch a deal better than the first. Tianjin region, reported 18100-0 # zinc 18200 yuan/ton, the first drop 220 yuan/ton, shortage of some brand zinc ingots, market price is high, the overall deal is fair.

3, afternoon to predict

recent zinc prices tumbled and strong demand for short-term rebound, and, according to data from the global zinc supply shortage in August to expand, to provide support for zinc prices, however, the current zinc prices have been high, investors position, space is limited, is expected to rebound from a technical view, zinc or at the top of the head and shoulders pattern form, Shanghai zinc moves closer to M type reversal pattern, two cities of zinc or bounce back next week. Aaron interval 2230 - zinc attention $2330 / ton, Shanghai zinc main 1612 contract 1. 74 - 1. 830000 yuan/ton, in operation, long waited for admission.
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