The epidemic in India has dragged zinc up

Zinc price trend

According to the data monitoring of business news agency, the zinc price fluctuated and adjusted in April, and the zinc market was basically stable. This week, the zinc price fluctuated and fell, and the zinc market weakened. As of April 25, the average price of zinc was 21606.67 yuan / ton, down 1.95% from 22036.67 yuan / ton on April 18 last weekend; Compared with the price of zinc on April 1, 21733.33 yuan / ton, the price of zinc fluctuated slightly, down 0.58%.

India’s epidemic can’t stop

Since April, the number of new confirmed cases in India has increased to a new high. According to the latest data of the World Health Organization, the number of new confirmed cases in India on the 23rd and 24th was the largest in the world. India’s official data show that on April 5, India’s daily number of confirmed cases exceeded 100000 for the first time, on April 15, more than 200000 and on April 22, more than 300000. India COVID-19 continues to deteriorate, triggering global concerns, the economic recovery is overshadowed, and zinc demand recovery is blocked.

In terms of commercial trade, from the overall situation of India’s products exported to the world, India’s main export commodities are chemical products, mineral products and precious metals and products. India’s exports to China are mainly fish, spices and iron ore, while its imports from China are mainly electronic products and equipment. The epidemic situation in India reduced the domestic zinc market’s export to India, but the impact was limited. The demand of zinc market fell but the decline was limited. The zinc market was bad but the negative pressure was small.

Analysis summary and Prospect

Bai Jiaxin, an analyst at business news agency, said: affected by the Indian epidemic, the global economic recovery is slowing down, and the demand of zinc market is dragged down. However, from the main types of trade commodities between China and India, it can be seen that the Indian epidemic has little impact on China’s zinc market. Zinc market is expected to be weak and stable in the future, and zinc market is expected to rise indefinitely.