Weak demand, increased supply expectations, zinc prices fluctuating and falling this week

Zinc prices fluctuated and fell in July

According to the Commodity Market Analysis System of the Business Society, as of July 10th, the zinc price was 20104 yuan/ton, a decrease of 0.50% compared to the fluctuating zinc price of 20206 yuan/ton on July 1st at the beginning of the month. Zinc market demand is weak and supply expectations are increasing, with zinc prices fluctuating and falling this week.

Overview of zinc market situation

Macroscopic monetary tightening, downstream consumption off-season, expected decrease in zinc market demand, enhanced economic recession expectations, and fluctuating decline in zinc prices; The processing cost of zinc concentrate has increased, the profits of zinc smelting enterprises have increased, the expectation of zinc smelting enterprises starting operations has increased, and the supply of zinc in the market is expected to increase.

Future Market Forecast

According to data analysts from Business Society, macroeconomic weakness has led to a decrease in demand for zinc, an increase in processing fees for zinc concentrate, and an increase in supply expectations for zinc. In the future, with an increase in supply and weak demand, zinc prices are expected to fluctuate and fall.