Galaxy Futures refined zinc supply zinc prices surge upward

The Milky Way Futures: the tight supply of refined zinc zinc price shocks to the client to view the latest market a market review 1, August LME zinc futures market high narrow range, as of August 24th, LME tons of zinc at $2280, the monthly price of $2314 tons, the lowest price $2276 tons, the amplitude of only $38 a month rose. 1.3% this month; Shanghai zinc trend slightly stronger than the outer disk, the main Shanghai zinc closed at 17595 yuan tons, the highest price of 17840 yuan per ton, the lowest price of 16870 yuan / ton, or about 3.7%, the ratio of Shanghai and London rose. Figure 1:LME figure 2: Shanghai zinc zinc trend in March the main contract trend source: anyp master the Milky Way futures colored Division 2, zinc inventory and spot premiums and the global refined zinc dominant stock in August the overall big change, but the LME zinc stocks and SHFE zinc stocks have differentiated, as of August 24th, LME zinc stocks 455275 tons, SHFE zinc stocks a total of 194144 tons, 649419 tons over the same period last month, the total is only an increase of 1365 tons. From the point of view, LME zinc inventories increased by 18275 tons, of which the new inventory is mainly concentrated in the warehouse in New Orleans, while SHFE zinc stocks decreased by 16910 tons, the domestic destocking progress significantly better than the overseas market. Overall, refined zinc inventory progress is still not optimistic, the cumulative supply gap is still small. From the spot, LME zinc spot and the domestic 0# has strong zinc spot, as of August 24th, LME zinc backwardation $5.75, Shanghai 0# zinc backwardation 80 yuan ton. The domestic and foreign stock by slightly early into premium premium, and premium rate continued to expand, display the spot’s concerns for the future supply; at the same time that the spot has been showing tension while backwardation continued strong obviously given zinc futures prices strong support. Figure 3:LME zinc stocks and SHFE zinc stocks change Tutu 4: Lun zinc and domestic spot premiums and WIND information sources: the Milky Way futures division two, non-ferrous zinc market dynamics and analysis, the 1 important dynamic industry in August 1st, BHP Billiton reported June zinc concentrate production of 6474 tons, down 59%; 1-6 months, the yield of zinc concentrate 55438 tons, down 17%. In August 2nd, India Vedanta group announced two quarter production report, data show that the zinc concentrate production down 130 thousand tons or 47% tons to 146 thousand tons; the India domestic output by 10.5 to 127 thousand tons, a decrease of 25 thousand tons to 19 thousand tons of overseas. In August 8th, the disclosure of Hanzhoung zinc industry summary meeting, 1~6 month company main products zinc production 181 thousand and 300 tons, an increase of 8.22%, a new record high. August 10th, Shanghai nonferrous metals network (SMM) survey shows that in July the domestic focus on zinc smelting enterprises operating rate of 73.58%, compared with a decline of 1.89% in June, the total sample size of the total production capacity of about 6 million 100 thousand.相关的主题文章: