Price trend

According to the data monitoring of SunSirs, the zinc price fell on March 16, and the zinc market fell. On March 16, the zinc price was 24,998 RMB/ton, down 1.09% from the price of 25,274 RMB/ton on the previous trading day; and a year-on-year increase of 13.40%.

Analysis review

The downstream galvanizing enterprises started less than expected, and the demand in the zinc market was lower than expected; the crisis in Russia and Ukraine is expected to ease, natural gas has fallen from a high level, the smelting cost of European zinc smelters has fallen, and the output of zinc ingots is expected to rise.

Inventories of zinc ingots in Shanghai futures market rose, the supply of zinc in the market was sufficient, and the downward pressure on the zinc market increased and the upward momentum weakened. It is expected that the price of zinc will fluctuate and fall in the future.

Market outlook

Supply is sufficient but demand is falling, zinc price is expected to fluctuate down.

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