News Current location: Home - News
Shanghai zinc rose more than 1% on Monday
2018-7-9

 

July 9 (LTIT) –On Monday, the domestic futures market was full of red, Shanghai zinc rose more than 1%, Shanghai copper rose more than 1.5%, and crude oil fell less than 1%.

 

The shrinkage of zinc mine end supply and domestic environmental protection and production limits have been affecting the production of zinc ingots, leading to the expectation of insufficient supply.

 

In the first half of this year, the output of galvanized sheet fell year-on-year, while the galvanized stocks rose rapidly. The main reason for this situation is that the downstream consumption is weak, and the long-term low processing fee is gradually warming up. It indicates that the mine end is more likely to resume production, and the contradiction between supply and demand of fundamentals is gradually resolved.

 

In the context of the normalization of trade friction between China and the United States, factors such as the strengthening of the US dollar and the downward pressure on the Chinese economy will exert pressure on zinc prices. It is predicted that Shanghai zinc may fall after a short-term rebound, and the long-term decline will only begin.

WWW.LINGTONG.INFO is China's most authoritative information provider on non-ferrous scrap metals. Once registered, your account will be available on both Chinese and English websites. More information is waiting for you on www.lingtong.info . Register now for free!