Zinc price trend
| Polyglutamic acid cosmetic grade |
According to the data monitoring of the business agency, the zinc price fluctuated and adjusted in October, and the recovery of zinc market was weak. As of October 21, the average price of zinc was 20106.67 yuan / ton, up 1.94% from 19723.33 yuan / ton on October 1 at the beginning of the month.
Reduction of zinc concentrate processing cost at home and abroad
According to the statistical data, in October, the processing fee of domestic zinc concentrate was 4900-5300 yuan / ton, with a month on month decrease of 500 yuan / ton; the processing fee of imported zinc concentrate was 100-120 US dollars / ton, with a month on month decrease of 60 US dollars / ton, to the lowest value in the year. The weather turned cold, and there were signs of second outbreak of overseas epidemic, and the willingness of zinc concentrate smelters to carry out winter storage in advance increased, the demand for zinc ore increased, and the zinc concentrate processing fee decreased significantly, and there was still a risk of falling back later. The decrease of processing cost of zinc concentrate has affected the supply of domestic zinc market, and the price of zinc has the power to rise.
Import data of zinc concentrate
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According to the latest customs data released by the General Administration of customs, in August 2020, 410700 physical tons of zinc concentrate were imported, 138000 physical tons increased by 50.7% compared with July, and 161000 physical tons were increased by 64.7% compared with August 2019. From January to August 2020, the total import volume was 2.713 million tons, with a year-on-year increase of 749000 tons or 38.1%. In August, the import volume of zinc concentrate increased significantly on a month on month basis, which was in line with the expectation. The main reason was that overseas mines further resumed work and production, and port shipping gradually returned to normal. On the whole, the import of zinc increased significantly.
Domestic zinc market inventory
Product inventory increase / decrease time
Zinc 16019.0 October 1
Zinc 15844 – 175 October 9
Zinc 17545 1701 October 12
Zinc 17997 452 OCT 13
Zinc 20658 2661 Oct 14
Zinc 25325 4667 October 15
Zinc 24797 – 528 OCT 16
Zinc 23795 – 1002 October 19
Zinc 20483 – 3312 October 20
Zinc 17640 – 2843 October 21
From the zinc inventory data of Shanghai futures market in October, we can see that zinc ingot inventory first rose and then fell, and the domestic zinc market substantially de stocked, reflecting the good performance of domestic zinc market demand and domestic zinc market recovery.
Analysis, review and Prospect
Bai Jiaxin, an analyst at the business agency, believes that: in October, the processing fee of zinc concentrate decreased, the rising power of zinc price increased, the import of zinc concentrate increased, the supply of domestic zinc concentrate was sufficient, and the driving force for the rise of zinc market was insufficient. The domestic zinc market inventory decreased, but the international zinc ingot inventory was sufficient, the overall global zinc market supply was sufficient, the probability of foreign zinc ingot inflow into China increased, and the domestic zinc price rise did not support enough. In general, the coexistence of long and short factors, the future price of zinc shock adjustment.
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