On September 2, the price of zinc fell sharply
According to the data monitoring of the business association, the zinc price fell sharply on September 2, and the zinc market fell. On September 2, the average market price of zinc ingots in East China was 24372 yuan / ton, down 3.06% from 25142 yuan / ton on the previous trading day, up 7.75% year-on-year.
Key points of analysis
The US and the European Central Bank are about to raise interest rates, the price of zinc in London has plummeted, Europe is considering decoupling natural gas from the electricity market, and energy prices have fallen recently. It is expected that the start of zinc smelting in Europe will pick up, the speculation in the zinc market will cool down, and the supply of zinc is expected to pick up. In the domestic market, the temperature has dropped and the precipitation has increased. Sichuan Province and Chongqing have resumed normal industrial and commercial power consumption. Zinc smelters affected by power shortage have resumed operation one after another, and the support of zinc price rise has weakened.
Future forecast
European energy prices have fallen, zinc market supply is expected to recover, domestic industry and Commerce have resumed power supply, supply and demand of zinc industry chain have recovered balance, domestic macro-economy is weak, and zinc market demand is still weak. It is expected that zinc prices will fall from a high level in the future.
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