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SunSirs: Zinc Market Fell Sharply on September 2
September 05 2022 10:20:57SunSirs(John)

Price trend

According to the data monitoring of SunSirs, the price of zinc fell sharply on September 2, and the market of zinc fell. On September 2, the average market price of zinc ingots in East China was 24,372 RMB/ton, down 3.06% from 25,142 RMB/ton on the previous trading day, and a year-on-year increase of 7.75%.

Analysis review

The price of zinc in London fell sharply in the evening trading of the United States and the European Central Bank to raise interest rates. Europe is considering decoupling natural gas from the electricity market, and energy prices have fallen recently. The start of zinc smelting in Europe is expected to pick up, the hype in the zinc market cools down, and the supply in the zinc market is expected to pick up.

In the domestic market, the temperature dropped and the precipitation increased. China's Sichuan Province and Chongqing City have resumed normal industrial and commercial power consumption. The zinc smelters affected by the power shortage have resumed operation one after another, and the support for the rise in zinc prices has weakened.

Market outlook

European energy prices have fallen, zinc market supply is expected to pick up, domestic industry and commerce have resumed power supply, zinc industry chain supply and demand have returned to balance, domestic macroeconomics have been weak, and zinc market demand remains weak. It is expected that the zinc price will fall from a high level in the market outlook.

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