According to the monitoring of the commodity market analysis system of Shengyi Society, as of September 19th, the price of 0 # zinc was 21988 yuan/ton, a decrease of 1.01% from the zinc price of 22212 yuan/ton on September 15th.
This week’s market analysis
| Gamma-PGA (gamma polyglutamic acid) |
In terms of the futures market, the overall trend this week has shown a narrow consolidation and weakness. Compared to last week, its upward support has decreased, and the price trend is gradually turning towards pressure and undergoing adjustments. As of the close on September 19th, the price of the main contract for Shanghai zinc closed at 22040 yuan/ton, a decrease of 265 yuan/ton compared to last weekend’s 22305 yuan/ton, with a weekly decline of 1.19%. In terms of the spot market, the domestic zinc spot market failed to maintain the previous stabilization trend this week, with prices showing a fluctuating downward trend. The overall operating rhythm is more under pressure compared to last week, and market trading sentiment is also more cautious.
Raw material end
In terms of mining, recently affected by the ratio factor, the loss of imported ore smelting has further expanded, and domestic smelters are therefore more inclined to purchase domestic ore. At the same time, the quoted price of imported zinc ore continues to rise, and the increase in import processing fees is also continuing.
Supply and demand side
In the smelting process, some domestic smelters carried out routine maintenance work in September, accompanied by temporary production cuts or shutdowns. It is expected that the domestic refined zinc production will decrease in that month.
In terms of consumption, zinc prices have shown a downward trend over the weekend. Downstream enterprises have seized the opportunity of the price decline and actively conducted price based purchases to replenish their raw material inventory. As the National Day holiday approaches, downstream enterprises still have a demand for pre holiday reserve inventory. According to relevant information, downstream enterprises have reported that the market performance during this year’s peak consumption season is not satisfactory, showing an overall trend of no strong demand during the peak season. The number of terminal orders has not significantly increased, and the demand performance in the domestic market is relatively sluggish.
fundamentals
The supply of refined zinc in China may experience a slight decrease in September. Recently, as the National Day holiday approaches, downstream enterprises have a demand for pre holiday reserve inventory. In addition, the current zinc price is relatively low, which can to some extent stimulate downstream enterprises to purchase at low prices. At the same time, overseas LME zinc inventories in London continue to show a trend of destocking.
comprehensive analysis
In the short term, the bottom of zinc prices has solid support, and there is limited room for further decline. It is expected that zinc prices will continue to fluctuate within a certain range.
| http://www.lubonchem.com/ |