SunSirs: The Non-Ferrous Sector Improved, and Zinc Prices Improved and Rose This Week
July 26 2023 13:42:06 SunSirs (John)
Zinc prices improved and increased this week
According to the Commodity Market Analysis System of SunSirs, as of July 25th, the zinc price was 20,442 RMB/ton, an increase of 0.74% compared to the fluctuating zinc price of 20,292 RMB/ton on July 19th. This week, the non-ferrous metal sector experienced a volatile and upward trend, which was beneficial for the metal zinc market. Zinc prices experienced a volatile and upward trend this week.
Non ferrous metal sector was up
According to the commodity market analysis system of SunSirs, the nonferrous metal index on July 25 was 1,112 points, up 2 points from the previous day, down 27.70% from the cycle's highest point of 1,538 points (2021-10-18), and up 83.20% from the lowest point of 607 points on November 24, 2015 (note: the cycle refers to 2011-12-01 to now).
China's strong policies were gradually being implemented, and expectations of macroeconomic recovery were increasing. Wall Street generally expects the Federal Reserve to restart the pace of interest rate hikes, but at the same time, it is expected that the Federal Reserve's rate hike in July may be the last rate hike of the year, leading to a rise in London's non-ferrous metals. This week, the non-ferrous metal sector saw a general rise, with macroeconomic benefits and a rebound in the zinc market.
Market outlook
Data analysts from SunSirs believe that China's strong support policy had been implemented, the US interest rate hike might come to an end, macroeconomic sentiment improved, and non-ferrous metals generally rose. In the future, strong supply still exists, weak demand may improve, and it is expected that zinc prices will fluctuate and consolidate in the future.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
- 2024-04-10 SunSirs: Closing Prices of Zinc Spot and Futures on April 9th
- 2024-03-07 SunSirs: On March 6th, the Closing Market of Zinc Spot and Futures Markets
- 2024-03-06 SunSirs: On March 5th, the Quotation for Zinc Ingots in the Shanghai Futures Market
- 2024-02-21 SunSirs: On February 20th, the Closing Market of Zinc Spot and Futures Markets
- 2024-02-20 SunSirs: During the Spring Festival, London's Zinc Reserves Accumulated, and Zinc Prices Fluctuated and Fell Slightly
