SunSirs: Zinc Price Fell on February 16
February 17 2023 09:52:37 SunSirs (John)Zinc price fell on February 16
According to the data monitoring of SunSirs, as of February 16, the zinc price was 22,782 RMB/ton, down 1.28% from the price of 23,078 RMB/ton on February 15 of the previous trading day. Demand remained weak, and zinc prices fell in shock on February 16.
Analysis review
The tightening monetary policy of the Federal Reserve remained unchanged, and the strength of the dollar remained; Overseas zinc supply was expected to increase; The recovery progress of domestic zinc market demand was general, the high processing cost was still high, the supply of zinc ore smelting was released, the supply of zinc ore was sufficient, the supply of zinc market was increased, and the increase of demand was limited.
Market outlook
Supply increased, demand was weak, and the downward pressure on zinc market is increased. It is expected that the zinc price will fall in shock in the future
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