Zinc prices rose in shock this week

Zinc prices rose in shock this week

 

According to the data monitoring of business agency, the zinc market fluctuated and rose this week, and the zinc price rose. As of March 7, the price of zinc was 26540 yuan / ton, up 6.12% from 25010 yuan / ton on February 28 last week. Zinc ingot inventory in zinc city increased this week, and the downward pressure on zinc price remains.

 

EDTA

Zinc ingot inventory in Shanghai futures market increased sharply

 

time . Futures inventory Increase or decrease

February 28th . one hundred and six thousand nine hundred and forty-six .- one thousand six hundred and seven

March 1st . one hundred and six thousand three hundred and twenty – six hundred and twenty-six

March 2nd . one hundred and six thousand three hundred and twenty . 0

March 3rd . one hundred and nine thousand two hundred and fifty-eight . two thousand nine hundred and thirty-eight

March 4th . one hundred and ten thousand nine hundred and forty-eight . one thousand six hundred and ninety

March 7th . one hundred and fourteen thousand six hundred and fifty-one . three thousand seven hundred and three

According to the zinc ingot inventory data sheet of Shanghai futures market, as of March 7, the zinc ingot futures inventory of Shanghai futures market was 114651 tons. In March, the zinc ingot inventory increased greatly, the inventory of Shanghai futures market increased, the supply of zinc market was sufficient, and the pressure of zinc price decline remained.

 

Russia Ukraine conflict intensifies European energy crisis

 

Melamine

The deterioration of the conflict between Russia and Ukraine and the sanctions imposed by Europe and the United States on Russia will affect the European energy supply, and the European natural gas market will be hit hard. Considering that Russia’s natural gas exports to Europe (pipeline gas + LNG) account for nearly 1 / 3 of its total demand, if the natural gas supply from Russia is seriously blocked, the already high European gas price will soar again. The sharp rise in natural gas prices drives up the price of electricity. The rise in zinc smelting costs may lead to further production reduction of zinc smelting in Europe. The output of zinc ingots in Europe is expected to decrease and the supply of zinc in the future is expected to decrease.

 

Future forecast

 

Business analysts believe that this week, the zinc ingot inventory in Shanghai futures market rose, the supply of zinc market was sufficient, and the downward pressure on zinc price remained. The price of zinc ingot in Russia is expected to rise, and the supply of zinc ingot in Europe is expected to decrease.

http://www.lubonchem.com/

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