After the holiday, zinc prices fluctuated slightly and fell

According to the Commodity Market Analysis System of Shengyishe, as of January 8th, the zinc price was 21392 yuan/ton, a decrease of 0.91% from the zinc price of 21588 yuan/ton on January 1st. The processing cost of zinc concentrate has decreased, and the inventory of zinc ingots in ports has increased. After the New Year’s Day holiday, zinc prices have slightly fluctuated and fallen.

The processing cost of zinc concentrate has decreased

From the trend chart of zinc concentrate processing fees, it can be seen that after the New Year’s Day holiday, zinc concentrate processing fees continue to decline, with a decrease of 100-300 yuan/ton in zinc concentrate processing fees in different regions, a decrease in zinc concentrate processing fees, and a decrease in the enthusiasm of zinc smelting enterprises to start production.

Increase in zinc concentrate port inventory

From the trend chart of zinc concentrate port inventory, it can be seen that the post holiday zinc concentrate port inventory has increased. On January 5th, the total zinc concentrate port inventory was 394000 tons, an increase of 58000 tons from 336000 tons before the holiday. The inventory of zinc concentrate in ports has increased, and the supply of zinc in the market is sufficient.

Increase in zinc ingot inventory

From the domestic zinc ingot social inventory statistics table, it can be seen that after the holiday, domestic zinc ingot inventory first decreased and then increased, and overall zinc ingot inventory was relatively low. The zinc market supply was sufficient, and the support for the increase in zinc prices was insufficient.

Future Market Forecast

According to data analysts from Business Society, after the New Year’s Day holiday, zinc ingot inventory and an increase in zinc concentrate port inventory result in sufficient supply of zinc in the market; However, the recovery of demand in the zinc market is limited. The processing cost of zinc concentrate has decreased, and the enthusiasm of zinc smelting enterprises to start production has decreased. In addition, the turmoil around the Red Sea has affected the supply of zinc in the market; Expected strong fluctuations and consolidation in zinc prices in the future.