According to the monitoring of the commodity market analysis system of Shengyi Society, as of April 27th, the price of 0 # zinc was 23186 yuan/ton, an increase of 2.94% compared to the zinc price of 22524 yuan/ton on April 21st.
This week’s market analysis
This week, zinc prices have shown a strong upward trend. The trend is coherent and stable, with no significant price pullback during the period, which indirectly confirms the relatively stable performance of the current market demand and strong support from the overall demand fundamentals.
Raw material end
This week, the refinery’s raw material reserve is relatively abundant. The weekly processing fees for domestic and imported zinc concentrates have remained stable without significant fluctuations. Recently, there has been a certain degree of recovery in the comparison between domestic and foreign prices, which has led to an increase in the quoted quantity of imported zinc. However, due to careful consideration of the subsequent zinc price trend, the smelter’s purchasing intention is not strong and their attitude is relatively cautious. Some responsible persons of smelters have revealed that although the current processing fees remain stable, considering the uncertainty and volatility risks of zinc prices in the future, as well as potential instability factors in the raw material supply chain, there are currently no plans to significantly increase the amount of raw material procurement.
Supply and demand side
In terms of current market trends, zinc processing fees continue to rise and there is still no sign of a trend reversal. The high level of processing fees has brought considerable profit margins to smelting enterprises, which objectively effectively mobilizes the production enthusiasm and enthusiasm of smelting plants. The supply of zinc ingots and other products in the future is highly likely to maintain a stable and increasing trend.
On the demand side, as we enter April, the traditional peak season characteristics of the construction industry are beginning to emerge, and the demand for galvanized steel has increased to a certain extent. Under this driving force, the enthusiasm of galvanizing enterprises for production is high, and the operating rate is increasing accordingly. Downstream buyers are highly price sensitive when faced with galvanized products, frequently lowering prices to reduce costs, which puts considerable pressure on galvanized enterprises and seriously restricts their willingness to further expand zinc demand. Galvanizing enterprises mainly purchase zinc ingots for essential needs.
comprehensive analysis
It is expected that the zinc price will fluctuate and run weakly next week.
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