Short-Term Zinc Prices Continue to Fluctuate at Highs [SMM Zinc Price Weekly Review]

SMM February 21 News: Price: On the macro side, the Russia-Ukraine conflict is expected to ease, alleviating market concerns over the extended tariff buffer period. With the domestic Two Sessions approaching in March, fiscal and monetary policies continue to strengthen, improving overall macro sentiment. Fundamentals side, overall changes are relatively small. Supply side, with the increase in imported ore and the gradual recovery of northern domestic mines, ore supply has increased, accelerating the rise in overall processing fees. Processing fees are expected to further increase in March, and the transmission of ore supply growth to smelter production increases is only a matter of time. On the consumption side, although enterprises have generally resumed work, the pace is slightly slower than expected. Spot zinc fluctuates downward, and social inventory continues to build up. However, the inventory buildup during the Chinese New Year, totaling 79,000 mt, is at a nearly 10-year low. This is related not only to goods in transit but also to the increased proportion of smelter factory deliveries. From the production schedule perspective, consumption may improve next week, and the space for further social inventory buildup is expected to be limited. Overall, in the short term, zinc prices are expected to fluctuate at highs, while in the long term, opportunities for short selling at highs can be considered. (The above information is based on market communication and comprehensive evaluation by the SMM research team. The information provided herein is for reference only and does not constitute direct investment research advice. Clients should make prudent decisions and not replace independent judgment with this information. Any decisions made by clients are unrelated to SMM.) >> Click to view the SMM Metal Industry Chain Database

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Short-Term Zinc Prices Continue to Fluctuate at Highs [SMM Zinc Price Weekly Review]

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