SunSirs: Zinc Prices First Fell and then Rose in September, and China's Zinc Market Generally Maintained Stability

1. Zinc price trend

According to SunSirs data monitoring, zinc prices first fell and then rose in September, and overall zinc prices remained stable. As of September 21, the average zinc price was RMB 20,493.33/ton, a decrease of 0.47% from the price of RMB 20,590.00/ton on September 1.

2. China's zinc production

The monthly output of zinc ingots in the domestic zinc market increased year-on-month, and the cumulative output increased. The supply of zinc in the zinc market has increased, and the downward pressure on zinc has increased. Zinc prices fluctuated and fell in early September.

3. Zinc inventory in Shanghai market

In the Shanghai futures trading market, zinc ingot inventories fell sharply in September, and futures inventories fell sharply. With the advent of'Golden September and Silver October', the domestic zinc market demand increased and zinc market inventories decreased. The zinc market gained momentum, and zinc prices recovered and rose in mid-September.

4. Analysis, overview and outlook

SunSirs analysts believe that zinc prices rose first and then fell in September. The domestic zinc ingot output increased from January to August, and the supply of zinc in the zinc market increased, and the pressure on zinc prices to fall increased. In early September, zinc prices fluctuated and fell; September Shanghai futures market spot Zinc ingot inventories first fell and then rose, and futures inventories fell sharply. With the arrival of the Golden 9th and the Silver 10th, demand in the zinc market has risen, the output of the zinc market has risen, and the supply of the zinc market has increased. The overall supply and demand of the zinc market is basically stable. It is expected that the zinc market will fluctuate and stabilize in the future.

Related listed companies: Zhongjin Lingnan (000060), Chihong Zinc Germanium (600497).

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