SunSirs: Economic Data Improved, Zinc Prices Fluctuated and Rose This Week

Zinc prices fluctuated and rose this week

According to the Commodity Market Analysis System of SunSirs, as of September 18th, the zinc price was 22,062 RMB/ton, an increase of 1.88% compared to the zinc price of 21,654 RMB/ton on September 11th. The economic data in August saw marginal improvement, macroeconomic recovery, market confidence improvement and recovery, and the zinc market was positive. This week, zinc prices fluctuated and rose.

The economic data for August ushered in marginal improvement

Under the stimulus of a package of stable growth policies, the economic data in August saw a marginal improvement. The total retail sales of consumer goods increased by 4.6% year-on-year, an increase of 2.1 percentage points compared to the previous month, and the market expected 3.5%; The added value of industries above designated size increased by 4.5% year-on-year, an increase of 0.8 percentage points compared to the previous month, and the market expects it to be 4.2%. The growth rate of retail sales of goods had significantly increased, and residents' consumer confidence had increased. The retail sales of goods increased by 3.7% year-on-year in August, an increase of 2.7 percentage points compared to the previous month. Promotional policies and events such as car shows had boosted demand for cars, with retail sales increasing by 1.1% year-on-year (previous value was -1.5%). The acceleration of housing completion led to an improvement in post real estate cycle consumption, with furniture increasing by 4.8% year-on-year (previous value of 0.1%) and household appliances and audio equipment decreasing by 2.9% year-on-year (previous value of -5.5%). Under policy stimulus, macroeconomic growth and expected rebound in demand for zinc are favorable for the zinc market.

Market outlook

According to data analysts from SunSirs, the implementation of policies had led to a comprehensive recovery in domestic macroeconomic data, with a growth rate exceeding expectations, and an expected rebound in demand in the zinc market. Overall, macroeconomic benefits have stimulated both supply and demand in the zinc market, and it is expected that zinc prices will fluctuate and rise in the future.

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