This week, the Spring Festival stocking increased, and the zinc price fluctuated and rose slightly. As the stocking basically ended, the zinc price stabilized and fell slightly. As of January 24, the zinc price was 24,898 yuan/ton, down 1.15% from the January 21 zinc price of 25,188.00 yuan/ton, and up 0.91% from the January 17 zinc price of 24,674.00 yuan/ton. During the Spring Festival stocking, zinc prices rose first and then fell.
As of January 24, the zinc ingot futures inventory in the Shanghai futures market was 49,864 tons. Recently, the futures inventory has greatly increased. The supply of zinc in the market is sufficient.
The recent Spring Festival stocking, downstream demand rose slightly, zinc prices fluctuated and rose, domestic zinc ore and zinc smelting production was normal, domestic short-term storage was slightly accumulated, the Shanghai futures market zinc ingot inventory increased greatly, and the zinc market was in sufficient supply. With the end of the Spring Festival stocking, zinc Market demand has fallen, the rising support of zinc prices has weakened, the supply of zinc ingots is sufficient, and the downward pressure on zinc prices has increased. It is expected that the zinc price will fluctuate slightly in the future.
Relevant listed companies: Zhongjin Lingnan (000060), Chihong Zinc and Germanium (600497).
