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Zinc weekly review: the refund the referendum of zinc does not exclude the continued falling ( 6. 13 - 6. 17)

by:Deyuan      2020-12-23
Core tip: Aaron zinc on interval 1900 - next week $2100 / ton, Shanghai zinc main 1608 contract 1. 5 - 1. 60000 yuan/ton, operational, light warehouse are empty.

a, market review

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

weeks, two cities of zinc downward trend on the whole, the federal reserve's policy-setting results before investors cautious trading, leave long locking in a profit, the federal reserve to keep interest rates unchanged, the positive phase of zinc digestion dragged down by falling oil prices down again, so far Aaron zinc fell to near $2000 / ton, Shanghai zinc main 1608 contract back to around 15500 yuan/ton. This week's zinc minimum dip to 1986 dollars/tons, about 3 weekly decline. Main of zinc 5%, Shanghai minimum 15380 yuan/ton, weeks, or about 0. Of zinc 3%, Shanghai relatively stronger Aaron zinc. LME inventories, weeks zinc inventory increase of more than 1600 tons, is now reported to 38. 20000 tons, zinc end demand is weak, the LME stocks don't. Zinc concentrate market

figure 2: zinc concentrate on charts

domestic zinc concentrate ( 50%, tax included) Price week with zinc prices rise sharply, but fell back then, as of Friday's 9950 - yunnan zinc concentrate 10150 yuan/tons of metal, 10450 - hunan zinc concentrate 10650 yuan/tons of metal, gansu province, 10350 - 10550 yuan/tons of metal, 10250 - in guangxi 10450 yuan/tons of metal, unchanged from last week. Domestic environmental protection is still severe, and affected by the previous mining consolidation, domestic zinc mine number less than before start working, zinc concentrate supply on the market supply of goods is a bit tight. In addition, the low season approaching, the zinc end demand weakened, smelter for zinc concentrate purchase quantity decline, combined with zinc concentrate prices are relatively high, high stock will is not strong. The spot market


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

first spot zinc prices this week after magnified, up to now in the Shanghai area 0 # 15490 - zinc 15590 yuan/ton, guangdong south store report 15180-0 # zinc 15480 yuan/ton, were flat last week. Week, zinc prices are high, ship smelters and traders enthusiasm high, but the downstream enterprises and high receiving interest from zinc is low, the market has a price no city. The second half of the week with zinc prices falling, some manufacturers inventory, market trading slightly better. At present in the Shanghai area of Shanghai is zinc zinc main yield 80 - liter discount Premium 20 yuan/ton, the businessman is quite strong appetite. Tianjin region, now offer 15530-0 # zinc 15630 yuan/ton, up from last week 30 yuan/ton, the price is relatively strong, Shanghai and guangdong area market clinch a deal.

3, afternoon to predict

the fed kept the federal funds rate unchanged, the market to digest this good, investors focus shifted to next week the British withdrew the referendum, recent figures show that Britain & other; Take off throughout Europe &; Camp in the lead. Before the referendum, trading, Shanghai period zinc did not rule out further falls. Aaron zinc on interval 1900 - next week $2100 / ton, Shanghai zinc main 1608 contract 1. 5 - 1. 60000 yuan/ton, operational, light warehouse are empty.
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