SunSirs: Weak Demand and Increased Supply Expectations, Zinc Prices Fluctuated and Fell This Week
July 11 2023 14:47:10 SunSirs (John)
Zinc prices fluctuated and fell in July
According to the Commodity Market Analysis System of SunSirs, as of July 10th, the zinc price was 20,104 RMB/ton, a fluctuating decrease of 0.50% compared to the zinc price of 20,206 RMB/ton on July 1st at the beginning of the month. Zinc market demand was weak and supply expectations were increasing, and zinc prices fluctuated and fell this week.
Overview of zinc market situation
Macroscopic monetary was tightening, downstream consumption was in off-season, the zinc market demand was expected decrease, economic recession expectations were enhanced, and zinc prices fluctuated and declined; The processing cost of zinc concentrate had increased, the profits of zinc smelting enterprises had increased, the expectation of zinc smelting enterprises starting operations had increased, and the supply of zinc in the market was expected to increase.
Market outlook
According to data analysts from SunSirs, macroeconomic was weak, the market demand for zinc was expected to decrease, processing fees for zinc concentrate increased, and supply expectations for zinc increased. In the future, with an increase in supply and weak demand, zinc prices are expected to fluctuate and fall.
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