Zinc prices fell in November

According to the data monitoring of business society, the zinc price fluctuated and fell in November, and the zinc market fell. As of November 30, the price of zinc was 23012.00 yuan / ton, down 5.67% from 24396 yuan / ton on November 1 at the beginning of the month; In November, the zinc market fell, and the zinc price fluctuated and fell.

The manufacturing industry returns to the expansion range, which is good for the zinc market

In November, the purchasing managers’ index (PMI) of China’s manufacturing industry was 50.1%, up 0.9 percentage points from the previous month, above the critical point. The manufacturing industry returned to the expansion range, indicating that China’s economic prosperity has rebounded on the whole. The domestic economy rebounded, the manufacturing production activities accelerated, the manufacturing market demand improved, the demand of zinc market recovered, and the zinc market remained positive.

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 email on November 22 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 supply is expected to decrease, and zinc prices rise.

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 price of galvanized sheet continued to decline in November and 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 in zinc market.

Market overview and future forecast

Analysts of the business community believe that due to the impact of limited electricity and epidemic situation, the supply and demand of zinc market were weak in November, and the downward pressure of zinc market was large. PMI rose in November, the domestic economy rebounded, manufacturing production activities accelerated, the market demand of manufacturing industry was expected to improve, and the downward space of zinc market was limited; Glencore zinc sulfide equipment maintenance, zinc supply is expected to decrease. Generally speaking, the future zinc market is expected to reduce supply, increase demand, increase the driving force of zinc price and weaken the downward pressure. Zinc prices are expected to hit the bottom and rebound in the future.