Zinc prices bottomed out and rebounded this week

According to the data monitoring of business society, the zinc price hit the bottom and rebounded this week, and the zinc market fluctuated and rose. As of November 23, the price of zinc was 23898.00 yuan / ton, up 1.74% from 23490 yuan / ton on November 12; This week, the zinc market recovered and rose, and the zinc price fluctuated and rose.

Glencore zinc equipment has been overhauled again

Impacted by high energy prices, the tide of shutdown affected more areas. Glencore said in a statement sent by e-mail on Monday that the portovesme production line with an annual output of 100000 tons of zinc sulfide will be maintained by the end of December; Glencore equipment maintenance, zinc prices rose.

The output of zinc concentrate decreased month on month

The zinc concentrate output of new century in the third quarter of 2021 was 28900 tons, a year-on-year decrease of 14.06% and a month on month decrease of 8.95%. The zinc concentrate output of Titan mining in the third quarter of 2021 was 1300T, with a year-on-year increase of 18.18% and a month on month increase of 23.81%. Trevali mining’s zinc concentrate output in the third quarter of 2021 was 37400 tons, with a year-on-year increase of 11.22% and a month on month decrease of 5.61%. The output of zinc concentrate of several major mining enterprises decreased month on month in the third quarter, and the supply of zinc city decreased.

Galvanized sheet market fell

According to the data test of business society, the market of galvanized sheet continued to decline in November, limited by the impact of electricity, epidemic situation and demand decline, the output of galvanized sheet continued to decline in November, and the trend continued to decline in October. At present, it has fallen to the lowest level of this year. The demand of zinc market has declined, and there is great downward pressure on zinc market.

Market overview and future forecast

Analysts of business society believe that due to the impact of limited electricity and epidemic situation, the demand of zinc market is weak, the downward pressure of zinc market is large, and the zinc price continued to decline in November; However, on Monday, Glencore announced the overhaul of 100000 tons of zinc sulfide equipment, which greatly reduced the supply expectation of zinc market. The overall supply and demand of zinc city are both weak, but the short-term supply is greatly reduced, which stimulates the sharp rise of zinc price. In the future, concerns about the expansion of the European energy crisis stimulated the rise of zinc prices. Overall, the short-term supply of zinc in the market decreased greatly, and the zinc price fluctuated and rose in the short-term future.