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Zinc zinc weekly review: the cycle or continued drop amplitude co. , LTD. ( 5. 2 - 5. 6)

by:Deyuan      2020-12-23
Core clew: next cycle zinc or continued drop, limited range, range 1800 - Aaron zinc attention 1 $1950 / ton, Shanghai zinc. 43 - 1. 550000 yuan/ton, in operation, and continue to hold the empty list.

a, market review

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

mix into Europe and the United States economic data or half, China's April economic data and weaker renewed concerns metals demand in China, the two cities of zinc back again, lost 20 day moving average, recorded more than two weeks since the lows. Weeks, Aaron zinc minimum dip to 1850 dollars/tons, is now near $1850 / ton, weekly decline more than 4%, Shanghai zinc main 1607 contract the lowest 14715 yuan/ton, the current fluctuations near 14800 yuan/ton, about 3 weekly decline. 5%. Metal stock aspect, the global market demand remains weak, zinc inventory decline is not large, this week the LME stocks to reduce 8000 tons from last week, is now 39. About 50000 tons. Zinc concentrate market

figure 2: zinc concentrate on charts

weeks domestic zinc concentrate ( 50%, tax included) Prices have tumbled, as of Friday's 9050 - yunnan zinc concentrate 9250 yuan/tons of metal, 9850 - hunan zinc concentrate 10050 yuan/tons of metal, gansu province, 9550 - 9750 yuan/tons of metal, 9450 - in guangxi 9650 yuan/tons of metal, fell 350 yuan from last week. Shipment because of falling prices, zinc prices will fall, sold by the order, the market supply of goods, the downstream smelter weeks stock increases slightly, but the amount is not big, low season approaches, zinc concentrate market demand will be reduced. Maintain starts at present, the big mining companies, small companies in environmental protection and the weak market pushed by limited capacity, start facing losses, firms have to shut down. The spot market


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

0 # zinc prices in Shanghai this week to follow of zinc, return to 1. Below the 50000 yuan/ton, as of Friday, 14690 - 14790 yuan/ton, down 460 yuan from last week, with the downward zinc prices, strong willingness to trader's price, main of zinc premium transfer premium is zinc to Shanghai, for the premium 80 - now 20 litres of water, good market clinch a deal this week last week, the downstream every fall inventory increase. Guangdong area, now offer 14410-0 # zinc 14710 yuan/ton, down 470 yuan from last week, the week shipment market merchants more, clinch a deal, near the receiving factory increase over the weekend. Tianjin region, 0 # zinc decline is 360 yuan, less than in guangdong, Shanghai, maintenance shut down some smelters, the supply of goods is relatively tight, zinc prices losses were limited, now offer - 14920 15020 yuan/ton.

3, afternoon to predict

China's economic data, the two cities of zinc short line under pressure, and as the season approaches, zinc prices have pressure of the callback, but late or relatively limited, due to the early stage of the domestic demand for metal surface is improved, and slow down the global zinc excess supply pressure, formation of zinc prices support. Next cycle zinc or continued drop, limited range, range 1800 - Aaron zinc attention 1 $1950 / ton, Shanghai zinc. 43 - 1. 550000 yuan/ton, in operation, and continue to hold the empty list.
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