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SunSirs: The Trend of Zinc Market on May 17
May 18 2022 14:01:29SunSirs(John)

Price trend

According to the data monitoring of SunSirs, the zinc price rose on May 17, and the zinc market rose. On May 17, the zinc price was 25,938 RMB/ton, an increase of 1.60% from the previous trading day's 25,530 RMB/ton. Zinc prices rose this week; 16.24% higher than 2021 year-on-year.

Analysis review

The registered warehouse receipts for zinc ingots in the LME market increased, and the cancelled warehouse receipts decreased, and the supply of zinc in the market was expected to increase. The resumption of production and work was progressing steadily, and the number of domestic zinc downstream enterprises had increased, and the demand in the zinc market had recovered. Both supply and demand recovered, and the downward pressure on the zinc market weakened and the upward momentum increased.

Market outlook

Supply and demand have picked up, and the rising momentum of zinc prices has increased. It is expected that zinc prices will fluctuate and rise in the future.

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