Zinc prices fell on March 9

According to the data monitoring of SunSirs, the zinc price fell on March 9, and the zinc market fell. On March 9, the zinc price was 26,444 RMB/ton, down by 0.59% from the price of 26,602 RMB/ton on the previous trading day and year-on-year increase of 21.30%.

Analysis review

The downstream galvanizing enterprises have resumed operation one after another, and the demand for zinc has recovered; the intensification of the crisis in Russia and Ukraine has led to high natural gas prices, which in turn leads to high zinc smelting costs, and zinc ingot production is expected to decline. Inventories of zinc ingots in Shanghai futures market rise, and the supply of zinc in the zinc market is sufficient. The downward pressure on the zinc market still exists, and the upward momentum is large.

Market outlook

Supply is sufficient and demand recovers, zinc prices are expected to rise in shock.

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