1、 Price trend
According to the data monitoring of business agency, zinc market rose in shock this week, and zinc price rose for several consecutive days. As of March 30, the spot price of zinc was 15346.67 yuan / ton, up 3.83% from 14780.00 yuan / ton at the beginning of the week. Zinc market demand recovered and zinc price rose in shock.
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2、 Market trend analysis
The average operating rate of industrial enterprises is 98.6%
On March 30, Xin Guobin, Vice Minister of the Ministry of industry and information technology, said at the press conference of the joint defense and joint control mechanism of the State Council that the current resumption of manufacturing industry shows an orderly and positive trend. As of March 28, the average operating rate of Industrial Enterprises above Designated Size in China was 98.6%, and the average return rate of personnel was 89.9%. The return rate of small and medium-sized enterprises has reached 76%. Since March, the average daily increase has been about 1 percentage point, and the pace of construction has accelerated significantly. Manufacturing enterprises started to increase and demand for zinc recovered. Zinc price is expected to rise in the future.
The trend of international zinc price is fluctuating and picking up
From last week’s LME zinc price trend chart, we can see that zinc price rose in shock this week. Zinc city has recovered, which is good for domestic zinc city. Zinc market in the future has a certain upward momentum.
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Zinc stocks down this week
Time: inventory increase / decrease of this week
Subtotal futures subtotal futures
3.23-3.27 160006 89002 -8319 -5008
3.16-3.20 168325 94010 -1586 7125
3.9-3.13 169911 86885 7509 -1202
3.2-3.6 162402 88087 2391 1999
As can be seen from the figure, the stock of zinc ingots in Shanghai futures market decreased this week, and the demand of zinc market increased. Zinc market demand has gradually recovered from cold transaction. It has a positive impact on zinc market.
3、 Future prospects
Bai Jiaxin, an analyst of business club, believes that: in the near future, downstream enterprises have resumed the increase of construction, the demand for zinc ingots has picked up, the zinc market has picked up, and the zinc price has the momentum to rise. However, due to the high cost of zinc processing, the supply of zinc ingots is sufficient, and the power of zinc price rise is insufficient. Generally speaking, zinc market demand has recovered in the near future, and zinc price has risen in shock. It is expected that the zinc market will pick up in the future, and the zinc price will have a certain upward momentum.
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