Zinc price rose on October 19

Zinc price rose on October 19

According to the data monitoring of the business community, as of October 19, the average market price of zinc ingots in East China was 25628 yuan/ton, up 1.51% from the previous trading day’s price of 25246 yuan/ton, down 5.83% year on year; Compared with the zinc price of 24710 yuan/ton on October 1, the increase was 3.72%. After the festival, the zinc price rose, and the recent zinc market was strong and stable.

Key points of analysis

The increase of interest rate in the United States aggravates the concern of economic recession, and the expected growth of zinc demand declines; The dollar fell back, and zinc in London was stronger in the night. The rise of domestic zinc smelting and processing fees has stimulated the enthusiasm of zinc smelting enterprises to start work. The supply of zinc is expected to rise, while the downstream zinc alloy and zinc oxide enterprises are expected to start work at a low level. The demand for zinc is still sluggish.

Future market forecast

The overall weak supply and demand situation in the zinc market has not fundamentally changed. The rise in zinc smelting and processing fees has stimulated the growth of zinc supply, and the demand for supply growth is sluggish. It is expected that the downward pressure on zinc prices will increase in the future.