Zinc prices fell this week

According to the data monitoring of business society, the zinc price fluctuated and fell this week, and the zinc market fell passionately. As of October 30, the price of zinc was 23646.00 yuan / ton, down 5.01% from 24894 yuan / ton last weekend (October 22); After the surge of passion in the zinc market, the zinc price fell continuously this week, the passion of the zinc market faded and returned to the balance of supply and demand.

Zinc prices fell in the futures market

Zinc futures prices fell this week, dragging down zinc prices in the spot market. According to the data detection of business agency, the nonferrous metal index on October 30 was 1364 points, the same as yesterday, down 11.31% from the highest point of 1538 points in the cycle (2021-10-18). This week, the nonferrous metal plate index fell sharply, the decline of nonferrous metal plate dragged down the zinc Market, and the zinc price in the current market fell continuously this week.

Market overview and future forecast

Business analysts believe that the price of zinc fluctuated and fell under the sharp decline of non-ferrous metal plate this week. With the intervention of national macro-control, the rising trend of non-ferrous metals in the early stage slowed down. With the continuous sharp decline of coal prices, the downstream supply and smelting expectations increased, alleviating the market supply pressure, and the zinc price fell. In the long run, the supply and demand of domestic zinc market is relatively balanced, but in the global market, the shutdown and production reduction in Europe seriously affect the supply of zinc market. The downward trend of zinc price will further erode the profit space of zinc smelters in Europe, exacerbate the pressure of shutdown and production reduction in the European market, reduce the supply of global zinc market, and the rise of international zinc price may be inevitable. In the future, the decline of zinc price is conducive to the return of the market to rationality, but the decline of zinc price exacerbates the supply shortage of zinc market, and the room for the decline of zinc price in the future is limited. It is expected that the zinc price will rise slightly in the future.