According to the data monitoring of SunSirs, as of October 19, the average market price of zinc ingots in East China was 25,628 RMB/ton, up 1.51% from the previous trading day's price of 25,246 RMB/ton, down 5.83% year on year; Compared with the zinc price of 24,710 RMB/ton on October 1, the price increased by 3.72%. After the festival, the zinc price rose, and the recent zinc market fluctuated strongly and stabilized.
Analysis review
The increase of interest rate in the United States aggravated the concern of economic recession, and the expected growth of zinc demand declined; the dollar fell back, and the London zinc futures were stronger over the night. The rise of domestic zinc smelting and processing fees stimulated the enthusiasm of zinc smelting enterprises to start work, and the supply of zinc was expected to rise. The operating rate of downstream zinc alloy and zinc oxide enterprises was low, and the demand for zinc was still sluggish
Market outlook
The overall weak supply and demand market in the zinc market has not fundamentally changed, and the rise of zinc smelting and processing fees has stimulated the growth of zinc supply. Supply increases and demand is downturn. It is expected that the downward pressure of zinc price will increase in the future.
