Zinc prices have slightly fluctuated and fallen this week

According to the Commodity Market Analysis System of the Business Society, as of June 25th, the zinc price was 20462 yuan/ton, a decrease of 0.78% compared to the zinc price of 20622 yuan/ton on June 18th last weekend; The zinc price has increased by 5.04% compared to June 1st, 19480 yuan/ton. Insufficient support for the positive zinc market has led to a slight decline in zinc prices this week.

Downstream market downturn

Affected by the upcoming Dragon Boat Festival holiday, downstream customers in the zinc market are stocking up, and their enthusiasm has increased. Zinc prices have fluctuated and increased. However, as the holiday approaches, downstream customers’ purchasing enthusiasm has declined, and zinc ingot traders have reduced prices to stimulate transactions, causing zinc prices to fluctuate and decrease.

Inflation in the United States is still at a high level, and the U.S. Dollar Index has risen in shock. In July, the expectation of interest rate increase in the United States has increased, the support for international economic macro growth has weakened, and the zinc price in London has fallen in shock.

Future Market Forecast

According to the data analysts of Business Agency, inflation still exists in the United States, the expectation of interest rate increases, the U.S. Dollar Index rises, and the domestic macro-economy remains weak; The Dragon Boat Festival holiday in China has ended, and downstream customers’ stocking and restocking have ended. The purchasing enthusiasm of downstream customers in the zinc market has declined. Overall, macroeconomic weakness remains, with insufficient support for the rise of the zinc market. It is expected that zinc prices will fluctuate and consolidate in the future.