Zinc price trend
According to the data monitoring of business news agency, the price of zinc fell sharply on the 27th, and the zinc market fell back. On January 27, the average price of zinc was 20136.67 yuan / ton, and the price of zinc fell 550 yuan / ton, or 2.63%.
Zinc inventory in London LME Market
According to the London LME market zinc inventory data, on January 26, the London LME market zinc ingot inventory was 235025 tons, an increase of 45250 tons, accounting for an increase of 23.84%. Among them, 214750 tons of registered warehouse receipts increased by 27.03%, 20275 tons of cancelled warehouse receipts decreased by 2.17%. LME zinc market warehouse receipts surge, global zinc market supply is sufficient, zinc market drop pressure increases, drag down zinc prices.
Analysis summary and Prospect
Bai Jiaxin, an analyst at business news agency, believes that: with the alleviation of the epidemic and the continuous promotion of vaccines, global mines have resumed operation one after another, the supply of zinc market has increased, the inventory of zinc in LME market has increased sharply, the global supply of zinc market is sufficient, and the oversupply of zinc market has intensified. Correspondingly, with the arrival of the domestic Spring Festival, a number of zinc downstream manufacturers stop production and overhaul plans have come out, which has dragged down the recovery of domestic zinc prices, Domestic zinc prices plummeted. In the long run, the zinc market is still supported by rising power, but before the Spring Festival, the demand of domestic zinc market is weak, the rising power of zinc price is insufficient, and zinc price is vulnerable to adjustment. Zinc market may usher in a short-term rising period after the festival.
| PVA |