Zinc price trend
According to the data monitoring of Business News Agency: zinc prices soared after the festival. On February 18, the average price of zinc was 21473.33 yuan / ton, up 6.25% from 20210.00 yuan / ton before the festival.
LME zinc price trend chart in February
According to the trend chart of LME zinc price in London, the LME zinc price rose sharply in February, and the domestic zinc market remained stable before the festival. The international zinc price rose, the domestic zinc market fluctuated and stabilized, the domestic zinc market’s rising power accumulated, and the zinc market’s rising power increased.
LME zinc price rises and falls during Spring Festival
Date ﹣ closing price ﹣ rise and fall ﹣ relative pre Festival ﹣ cumulative rise and fall ﹣ unit
February 10 – 2729 – - – USD / T
February 11 – 2801 – 72 – 2.64% USD / T
February 12 – 2837 – 36 – 108 – 3.96% USD / T
February 15 – 2844 – 7 – 115 – 4.21% USD / T
February 16 – 2844 – 0 – 115 – 4.21% USD / T
February 17 – 2810 – 34 81 – 2.97% USD / T
It can be seen from the rise and fall table of zinc price in LME market that during the Spring Festival, the international zinc market rose, which stimulated the domestic zinc market to rebound and rise. After the festival, the soaring zinc price released the rising pressure, and the rising power of zinc market was greater.
Analysis summary and Prospect
Bai Jiaxin, an analyst of business news agency, believes that: since February, the price of zinc in LME market has been fluctuating and rising, and the price of zinc in international market has been warming up and rising, which is good for the domestic zinc market. During the Spring Festival, the price of zinc in LME market has been fluctuating and rising, which is good for the domestic zinc market. After the festival, the price of zinc has soared, and the price of zinc has risen by 1000 yuan a day, releasing the upward pressure of zinc market. Generally speaking, the supply and demand changes of domestic zinc market are limited, the rising power of zinc market is not enough to support the continuous rise of zinc price, and the future zinc market is expected to be adjusted by shock and rise slightly.
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