SunSirs: Zinc Price Rose on February 21

https://www.chemnet.com   Feb 22,2023 SunSirs

　　According to the data monitoring of SunSirs, the zinc price was 23,436 RMB/ton as of February 21, up 0.85% from the price of 23,238 RMB/ton on February 20 of the previous trading day. Demand rebounded, and zinc prices continued to rise.

　　Analysis review

　　According to the data released by the European Commission, the consumer confidence index of the euro zone rose to - 19 in February from - 20.7 in January, and the consumer confidence index rose to the highest level in a year. The resilience of the euro zone and the confidence that it can survive the recession this year have been increasing, and the zinc price fluctuated upward overnight.

　　The output of new capacity in Henan was not stable, the monthly supply of refined zinc in February may be less than expected, the terminal orders are increasing, the sales of finished galvanization products were hot, the demand was slightly higher than expected, the market was more emotional, and the demand of zinc market was warmer than expected.

　　Market outlook

　　Both supply and demand increased, the demand of zinc market exceeded expectations, and the rising power of zinc market increased. It is expected that the price of zinc will rise in shock in the future.

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