Zinc prices fell first and then rose this week
| Gamma Polyglutamic Acid |
According to the Commodity Market Analysis System of the Business Society, as of August 21, the zinc price was 20276 yuan/ton, which decreased first and then increased compared to the zinc price of 20716 yuan/ton on August 13 last weekend, a decrease of 2.12%. After a significant increase in zinc ingot inventory in the LME market, it decreased. The zinc market has sufficient supply, but the macroeconomic recovery is less than expected. The demand for zinc is poor, and the metal zinc market is bearish. Zinc prices fell first and then rose this week.
Zinc ingot inventory in the LME market plummeted after a surge
From the inventory statistics of zinc ingots in the LME market, it can be seen that the inventory of zinc ingots in the LME market has significantly increased and slightly decreased, resulting in a significant increase in zinc supply in the market. The supply of zinc in the market is sufficient, and the downward pressure on the zinc market has increased. This week, zinc prices have fallen, but as the inventory growth in the zinc market weakens, the downward pressure on zinc prices has weakened and there has been a slight rebound.
| Gamma Polyglutamic acid Cosmetic |
Poor demand in the zinc market
The construction of domestic infrastructure and other related projects has not started well, with weak orders from galvanized enterprises, and the operating rate of enterprises has decreased month on month. The US dollar index rose sharply and then fell, while the non-ferrous metal market weakened but showed a rebound trend; The real estate market has experienced losses in the first half of the year due to the phenomenon of “buying houses but not loans”. The real estate market has not seen a significant improvement, and expectations of a rebound in demand in the zinc market have weakened, resulting in weak spot trading.
Future Market Forecast
According to data analysts from Business Society, the inventory of zinc ingots in the LME market has skyrocketed, leading to a significant increase in zinc supply and significant downward pressure on the zinc market; In terms of demand, the macroeconomic recovery is poor, and the demand growth in the zinc market is less than expected, with insufficient support for the rise of the zinc market; However, at present, zinc prices have fallen to a two-year low, and there is limited room for a decline in zinc prices. In the future, there will be a double increase in supply and demand in the zinc market, but the demand growth is not as expected, and the supply is stable. It is expected that the zinc price will be weak and consolidate in the future.
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