Zinc price rose on August 17

According to the data monitoring of business agency, the zinc price rose on August 17, and the zinc market recovered. On August 17, the zinc price was 25712 yuan / ton, an increase of 2.21% over the zinc price of 25156 yuan / ton on the previous trading day; On August 17, the zinc price rose sharply; Compared with 2021, the zinc price increased by 11.52% year on year.

Key points of analysis

The hot summer in Europe has led to higher than normal natural gas demand, intensified energy crisis in Europe, reduced natural gas supply in Russia, soaring energy prices in Europe, increased production reduction and shutdown of zinc smelters in Europe, reduced supply in Europe, sufficient supply in domestic zinc market, large increase in zinc ingot inventory in Shanghai futures market, and increased pressure on zinc inventory decline. With the advent of the golden nine and silver ten, the domestic infrastructure projects have started to increase, the supply and demand of the domestic zinc market have recovered, the supply and demand of the zinc market have not yet recovered to the expected level, and the downward pressure of the zinc market still exists and the upward momentum is large.

Future forecast

The supply and demand of zinc market are weak, the overall international zinc market is in short supply, and the domestic zinc market is in sufficient supply and insufficient demand. In the future, the driving force of zinc price rise still exists but there is insufficient room for rise. The short-term zinc price mainly rises slightly, and the long-term zinc price fluctuates broadly and stabilizes.