Zinc prices rose and fell sharply this week
According to the data monitoring of business society, the zinc market has been adjusted broadly this week, and the zinc price has risen and fallen sharply. As of March 10, the price of zinc was 25264 yuan / ton, down 1.97% from 25772 yuan / ton on March 4 last weekend. Zinc ingot inventory in zinc city increased this week, and the downward pressure on zinc price remains.
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Zinc ingot inventory in Shanghai futures market increased sharply
Time Futures inventory Increase or decrease
February 28th . one hundred and six thousand nine hundred and forty-six .- one thousand six hundred and seven
March 1st one hundred and six thousand three hundred and twenty .- six hundred and twenty-six
March 2 one hundred and six thousand three hundred and twenty . 0
March 3 one hundred and nine thousand two hundred and fifty-eight . two thousand nine hundred and thirty-eight
March 4 one hundred and ten thousand nine hundred and forty-eight . one thousand six hundred and ninety
March 7 one hundred and fourteen thousand six hundred and fifty-one . three thousand seven hundred and three
According to the zinc ingot inventory data sheet of Shanghai futures market, as of March 7, the zinc ingot futures inventory of Shanghai futures market was 114651 tons. In March, the zinc ingot inventory increased greatly, the inventory of Shanghai futures market increased, the supply of zinc market was sufficient, and the pressure of zinc price decline remained.
The conflict between Russia and Ukraine is intertwined
The deterioration of the conflict between Russia and Ukraine triggered concerns about the shortage of energy supply in Europe, and the zinc market rose sharply on Monday. On the evening of March 9, Ukrainian President Zelensky delivered a speech, saying that Ukraine was ready to make a compromise to end the war, and the Russian Ukrainian conflict was expected to turn for the better. Long and short forces intertwined, and the zinc market rose and fell sharply.
| POLYVINYL ALCOHOL |
OPEC increases production
The UAE called on OPEC + to increase oil production, and then said it would be committed to complying with OPEC +’s monthly adjustment mechanism. Iraq said earlier that it could increase production if OPEC + asked. OPEC has increased production, the oil crisis has been alleviated, energy prices have fallen, the output of zinc market is expected to decline, the supply of zinc market may exceed expectations, and the upward momentum of zinc market has weakened.
Future forecast
Business analysts believe that this week, the zinc ingot inventory in Shanghai futures market rose, the supply of zinc market was sufficient, and the downward pressure on zinc price remained. The conflict between Russia and Ukraine is intertwined, OPEC has increased production, the European energy crisis has been alleviated, the cost of zinc smelting in Europe is expected to decline, the supply of zinc in Europe is expected to increase, the supply of global zinc market is expected to increase in the future, the demand of zinc Market is less than expected, the overall bad situation of zinc market increases, the good situation weakens, and the zinc price in the future may fall.
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