Domestic metal zinc market rose slightly on September 14

On September 14, the domestic market for zinc metal rose, the average price of metal zinc in the domestic spot market was 21,627.50 yuan / ton, up 0.02% from the previous trading day; the average ex-factory price was 22,125.71 yuan / ton, compared with the previous trading day. The price rose by 0.03%.

On September 13, the zinc (market) commodity index was 123.51, up 1.35 points from yesterday, down 20.71% from the highest point of 155.77 points (2017-10-09) in the cycle, compared with 72.28 points on November 22, 2015. It rose by 70.88%. (Note: Period refers to 2011-09-01 to date).

On September 14th, the price of zinc rose. Recently, the zinc price fluctuated and adjusted. On September 14, the domestic zinc price rose slightly, and the price rose less than 10 yuan/ton. The price was basically stable. In September, the overall balance of supply and demand in the zinc market did not change significantly. The market performance struggled, and the zinc warehouse stocks rose, and the zinc market supply rose sharply. On September 14th, the stock price of zinc ingots in Shanghai futures market was 6,165 tons, and the inventory increased by 2005 tons. The futures zinc stocks rose sharply, but the zinc demand did not improve significantly. The market activity of zinc ingots was poor, and the overall transaction volume was low.

Market outlook: After the market outlook, market demand has not improved significantly, and zinc prices have not been able to rise. On the supply side, zinc stocks have seen significant growth in recent stocks. Shanghai futures zinc ingots have an inventory of 6,165 tons, and futures inventories have increased substantially. The zinc market is abundantly supplied, and zinc prices are insufficiently driven, which is a negative for zinc prices. The oversupply phenomenon in the zinc market has aggravated, and the risk of falling zinc prices in the market has increased. It is expected that the zinc price in the market will fall, and the price of zinc ingots will fall below the 20,000 yuan/ton mark in September.

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