Zinc prices rose slightly this week

According to the data monitoring of business society, the zinc price rose slightly this week, and the zinc market rose slowly. As of January 10, the zinc price was 24370 yuan / ton, up 0.61% from 24222 yuan / ton on January 1 at the beginning of the month. Zinc prices rose slowly, and the zinc market fluctuated and adjusted this week.

Soaring electricity prices in Europe affect zinc supply

Europe has sanctioned Beixi 2, the most important gas transmission pipeline from Russia to Europe. The amount of natural gas supplied by Russia to Europe has decreased. At the same time, Germany will close nearly half of its nuclear power plants by the end of 2021. The electricity price in Europe remains high, and the start-up of zinc smelting in Europe remains low.

There are many downstream production stops in China

Affected by environmental protection, Spring Festival holiday, Winter Olympic Games and other reasons, many zinc plating plants and zinc oxide enterprises in Hebei plan to advance or increase the Spring Festival holiday. Hebei galvanizing plant has been affected by the introduction of relevant policies for the Winter Olympic Games. Most enterprises will start to arrange holidays in January, and may even stop production until March 8, 2022. In addition, at the end of the year, the downstream receiving mood was not high, the downstream demand was weak, many enterprises had almost no orders, traders continued to accumulate warehouses, and the demand for zinc ingots weakened.

Future forecast

Business analysts believe that: under the double weak market of supply and demand, it is difficult for downstream demand to recover near the holiday, domestic zinc ore and zinc smelting production are normal, domestic short-term stocks are accumulated slightly, and the overall rise support of zinc market is insufficient, and the downward pressure is limited. Zinc prices are expected to fluctuate slightly in the future.