China Zinc Oxide Prices Rise October 19-23

Market focus this week include: the annualised reading of new housing starts in the United States in August, the initial value of the manufacturing PMI in the Eurozone in September, and the initial value of the Markit manufacturing PMI in the United States in September; China's one-year loan market quotation interest rate as of September 22. In terms of events, FOMC will announced the interest rate resolutions this Thursday; the Fed Chairman Powell will hold a press conference; and the European Central Bank will announces an economic bulletin.

Many zinc traders contributed the surge in zinc market mainly to two factors, 21st Century Business Herald reported. 

The price spread between domestic and imported zinc has narrowed recently, SMM noted.

TCs of domestic zinc concentrate (50%) stabilized at 5,200-5,400 yuan per tonne (zinc content) this past week, and those for imported zinc concentrate (50%) were $110-130 per dry metric tonne (DMT)

Zinc market has been rising in recent days. Will the rising momentum continue? SMM surveys major 25 domestic galvanized plants for a whole picture of the market.

Prices for indirect zinc oxide rose 400 yuan to 14,400-14,800 yuan per tonne this past week, SMM data show.

The US dollar index fell further, bolstering base metals.

Prices of indirect zinc oxide fell 200 yuan to 12,900-13,500 yuan per tonne this week, according to SMM data.

Prices of indirect zinc oxide rose to 13,250-13,500 yuan per tonne this past week.

Prices of indirect zinc oxide in China fell with zinc prices to 13,000-13,400 yuan per tonne this past week, SMM reports.