Zinc price stopped falling and rebounded in September
According to the data monitoring of business agency, the decline stopped and picked up in the first week of September, and the zinc price rose for four consecutive trading days in September. As of September 7, the price of zinc was 22893.33 yuan / ton, up 0.51% from 22613.33 yuan / ton on September 1 and 22776.67 yuan / ton at the end of August (August 31). In September, the zinc price stopped falling and rebounded, and the zinc market recovered.
Zinc spot basis rose in September
According to the monitoring data of business society, as of September 7, 2021, the maximum 180 day main basis of zinc (Changjiang nonferrous metals) was 850.00, the minimum was 360.00, and the average was 624.27. The maximum value of 90 day main basis is 850.00, the minimum value is 510.00, and the average value is 708.10. In September, the current basis of zinc market fluctuated and rose.
Overview and Outlook
Bai Jiaxin, an analyst at the business society, believes that the current basis of the zinc market fluctuated and rose in September, the spot price of the zinc market rose all the way, the futures price of the zinc market fluctuated and adjusted in September, and the rise of the futures zinc price was significantly lower than that of the spot zinc price. The rising power of the future zinc market is insufficient, and it is expected that the future zinc price will fluctuate and fall slightly.
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