SunSirs: London Zinc Prices Rose during the Spring Festival, and China's Domestic Post-Holiday Day Rose by 1,000 yuan

Zinc price trend

According to the data monitoring of SunSirs, the price of zinc has soared after the holiday. On February 18, the average zinc price was 21,473.33 yuan/ton, which was higher than the pre-holiday zinc price of 20210.00 yuan/ton, and it rose by more than 1,000 yuan/ton in a single day, an increase of 6.25%.

LME zinc price trend in February

According to the zinc price trend in the London LME market, it can be seen that the LME zinc price rose sharply in February, and the domestic zinc market fluctuated and stabilized before the holiday. International zinc prices rose, the domestic zinc market fluctuated and stabilized, the domestic zinc market's upward momentum accumulated, and the zinc market’s upward momentum increased.

LME zinc prices rose and fell during the Spring Festival

From the rise and fall of zinc prices in the LME market, it can be seen that during the Spring Festival, the international zinc market rose, which stimulated the domestic zinc market to rebound. After the holiday, the surge in zinc prices released upward pressure and the zinc market had a greater momentum to rise.

Analysis, Overview and Outlook

SunSirs analysts believe that since February, the price of zinc in the LME market has fluctuated and the international market has rebounded, which is good for the domestic zinc market. During the Spring Festival, the price of zinc in the LME market has fluctuated and increased, which has increased the positive stimulus to the domestic zinc market. After the zinc price soared, the price of zinc rose by 1,000 yuan a day, releasing the upward pressure on the zinc market. Generally speaking, the supply and demand changes in the domestic zinc market are limited, and the rising momentum of the zinc market is not enough to support the continuous increase in zinc prices.

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

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.