SunSirs--China Commodity Data Group

Member ID: password: Join Now!
Commodity News

SunSirs: Futures Zinc is in a Quagmire, Zinc Ingot Current Prices Swing and Adjust

October 24 2019 13:15:28     SunSirs (Linda)

1. Prices Trend

According to the data monitoring of SunSirs, zinc prices have been fluctuating and stable recently. Since September, zinc prices have been swinging and adjusted. On October 23, the price of zinc was 19,063.33RMB/t, slightly increased by 0.19% compared with September 1, and increased by 0.12% compared with October 1. Since September, zinc market has stagnated and zinc prices have been stable.

2. Market Analysis of Shanghai Futures Market

From September to October, the quantity of zinc stock in Shanghai futures market fluctuated and remained stable, the supply of zinc market was stable, the rising power of zinc price was insufficient, and the falling pressure was limited. In terms of trading activity, the trading lots fluctuated and fell, the trading activity in October was significantly lower than that in September, and the demand of zinc market in the future was not optimistic.

3. Prospects for the Future Market

An analyst from SunSirs believes that from the market situation of Shanghai futures market, it can be seen that the performance of zinc ingots in futures market is weak, and the market situation in the future is weak. In terms of supply, the stock is stable, there is no large supply shortage in the market, and the zinc price in the future does not have enough momentum to rise. Generally speaking, the ‘gold nine September and Silver October’ is not in place, the zinc market is in a deep mire, and the future zinc price will still fluctuate and maintain stability.

Related listed companies: Nonfemet(000060), CHIHONG Zn&Ge(600497).

If you have any questions, please feel free to contact SunSirs with

Rubber & plastics
Non-ferrous metals
Building materials
Agricultural & sideline products