Zinc prices slightly increased this week

According to the Commodity Market Analysis System of SunSirs as of April 14th, the zinc price was 22,436 RMB/ton, an increase of 1.27% compared to April 7th's zinc price of 22,154 RMB/ton, and a decrease of 1.52% compared to April 1st's zinc price of 22,782 RMB/ton. US inflation data fell, international market conditions were expected to improve, and zinc prices slightly increased this week.

US inflation growth rate data fell

On Wednesday, the US March CPI data was released and the Federal Reserve's March meeting minutes were released. The US March CPI rose by 5% year-on-year, with an expected 5.2%, the lowest since May 2021 and the ninth consecutive month of slower growth; The month on month increase was 0.1%, with an expected 0.2%. The US CPI in March decreased from 6.0% in February to 5.0%. The US inflation growth rate data had significantly decreased, the US dollar index had significantly declined, and the international market economy was expected to recover.

Market outlook

According to data analysts from Business Society, the growth rate of inflation in the United States had fallen, the international market economy was expected to warm up, the zinc price in the London LME market had increased, and the upward momentum of zinc prices in the domestic zinc market had increased. China's import and export gradually rebounded, with an increase in downstream zinc oxide orders. Downstream demand in the zinc market rebounded. Yunnan was experiencing power shortages recently. It is expected that the operating rate of zinc smelting will decrease in the future, and the supply of zinc in the market is expected to be tight. Overall, the supply of zinc in the future market is tight, and demand is rebounding. It is expected that zinc prices will fluctuate up slightly in the future.

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