SunSirs: Zinc Market is Full of Supply but Weak Demand
May 25 2023 09:39:33The latest price of zinc (May 24): 19712 RMB / ton, the market outlook is bearish
Analysis points: Zinc price on May 24 was 4.00% higher than that of the previous trading day. In terms of demand, the demand for galvanized sheets and zinc oxide in the domestic market is poor, the real estate market starts to weaken, and the demand for zinc in infrastructure and real estate is expected to decline; in the international market, the initial value of the U.S. manufacturing PMI in May was 48.5, returning to the 50 line of prosperity and decline Below, the manufacturing industry is weak, the demand for metals is insufficient, metal prices generally fall, and the London LME zinc price plummets. On the supply side, zinc concentrate processing fees tend to be stable, the impact of power cuts in Yunnan has weakened, zinc smelters have started operations stably, and the supply of zinc in the market is sufficient.
Forecast of the market outlook: Sufficient supply and weak demand, zinc prices are expected to fluctuate and fall.
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