Zinc prices rose overall
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According to the data monitoring of the business news agency, the zinc market was stimulated by the news of the state’s investment and storage in July, and the rise of zinc price slowed down, but the overall zinc price still fluctuated and rose; As of July 20, zinc prices rose 1.61% in July. As of July 20, the price of zinc was 22893.33 yuan / ton, up from 22530 yuan on July 1. The price of zinc fluctuated and rose. The positive stimulus of zinc market still exists.
Tight supply, rising electricity prices, power rationing and upgrading
After entering July, the country has experienced high temperature weather in succession, and the power consumption has risen. With the frequent release of high temperature warning in various places, the strong demand for power coal caused by the peak of power consumption this summer has attracted attention from many parties. In order to ensure the local power coal supply, Henan Province has made the decision that all coal mines should not export power coal, which highlights the pressure of market supply guarantee. According to the statistics of business news agency, as of July 2021, China’s coal prices have increased by different ranges. Among them, the price of steam coal increased by 26%, the price of coking coal increased by 39%, and the price of coal reached a 10-year high! The price of coal rises, and the power consumption of the whole society continues to rise. The price of raw materials for thermal power generation rises, the power consumption increases greatly, and the driving force of electricity price increases.
With continuous high temperature, the power load of various places has reached a new high. Seasonal peak electricity price and demand response electricity price policy have been implemented in many places of China. Anhui, Jiangsu and other places have implemented seasonal peak electricity prices; Industrial power rationing has started all over the country, and Yunnan Province has begun to ask some local metal producers to reduce power consumption for the second time in three months. Some zinc and tin smelters in Yunnan have been informed to reduce their electricity consumption by 25%. Many enterprises in Inner Mongolia, Ningxia and other places have limited production or even stopped production, and domestic power rationing has been upgraded. Electricity rationing upgraded again, resulting in a decline in zinc production.
Overview and future prospects
Bai Jiaxin, an analyst of business news agency, believes that: affected by continuous high temperature weather, electricity prices rise, zinc smelting enterprises’ costs increase, and the driving force of zinc price rise increases. The output of zinc smelting enterprises is expected to decline due to power rationing. Zinc price has a strong driving force. Overall, the upgrading of power rationing stimulates the rise of zinc market, and zinc price is expected to rise slightly in the future.
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