Zinc price fluctuated and rose in January

According to the data monitoring of the Business News Agency, the zinc price was 24,340 RMB/ton as of January 31, up 1.53% from the price of 23,974 RMB/ton on January 1 at the beginning of the month. The domestic economy recovered, the demand for zinc increased, and the price of zinc rose in January.

China Manufacturing Purchasing Manager Index

According to the data of the National Bureau of Statistics, in January, the manufacturing purchasing managers' index (PMI) was 50.1%, up 3.1 percentage points from the previous month, rising above the critical point, and the level of the manufacturing boom rose significantly. Both supply and demand have improved simultaneously, China's economic boom has picked up significantly, and the manufacturing boom has picked up rapidly.

International market

The Federal Reserve released the minutes of the hawkish meeting, which showed that the Federal Reserve was worried that the market was too optimistic and the interest rate might be higher than expected. The US CPI rose 6.5% year-on-year in December, lower than 7.1% of the previous value. The Federal Reserve Bill Committee supported the interest rate increase to 5.4%, higher than the expected peak of the Federal Reserve in December. ISM manufacturing fell to 48.4 in December, shrinking for the second consecutive month. The US dollar index fell sharply in January, and the market risk was high. The US dollar index rebounded after the holiday, but the overall market outlook was still not optimistic. On the industrial side, the energy support in the international market has weakened, and there is a floor support under low inventory. The rising power of zinc price still exists, and the price of Lun zinc rose slightly in January.

Market outlook

According to the data analysts of the Business News Agency, in the international market, the US inflation fell, the manufacturing index shrank for the second consecutive month, the US dollar index fell in January, and the international economic downturn remained unchanged; In January, the domestic PMI index rose, both domestic supply and demand improved simultaneously, and zinc prices rose in shock. In the future, both supply and demand in the domestic zinc market have warmed up, the international zinc market is still weak, and the supply and demand of zinc market and the long and short game still exist. It is expected that the zinc price will rise slightly in the future.

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