The price of zinc fluctuated and rose

According to the data monitoring of the business agency, the zinc price fluctuated and rose this week, and the zinc market recovered. As of December 24, the price of zinc was 24410 yuan / ton, up 1.01% from 24166 yuan / ton on December 17 last weekend; Compared with the zinc price of 23804 yuan / ton on December 20 at the beginning of the week, the price increased by 2.55%. The zinc market rose this week, and the zinc price fluctuated and rose.

Nonferrous metals sector rose

According to the statistics of the business agency, the non-ferrous sector index rose this week, the prices of non-ferrous metal products generally rose, and the sector prices rose, which greatly supported the rise of zinc city and gave greater impetus to the rise of zinc prices.

European energy crisis triggered shutdown tide

On this week’s “black” Tuesday, natural gas futures prices in continental Europe and the UK both rose by more than 20%, reaching a record closing high. The sharp rise in natural gas prices is followed by the rise in electricity prices in Europe. So far, the average price of electricity in most European countries has exceeded 300 euros / megawatt hour. In the same period of 2019, the electricity price in Europe is 25-50 euros per megawatt hour. High operating costs have forced many metal smelting enterprises to reduce production and even temporarily close their factories. The output of zinc smelting decreased and the driving force for the rise of zinc price increased.

Future forecast

Business analysts believe that: affected by the European energy crisis, European electricity prices soared, European zinc smelters continued to reduce production, the supply expectation of zinc market decreased, and the driving force of zinc price rise increased. Zinc prices are expected to rise in the future.