[SMM Weekly report selected] domestic zinc concentrate and import processing fees see bottom in June. Smelters plan to increase 100,000,200 yuan / metal ton in July.

"SMM Zinc Industry chain Weekly report" released, the weekly report SMM will select the hot topics, prices, market or major changes in the industry chain information released into a document for your reference.

The following is an excerpt from the weekly report of the zinc industry chain:

Zinc market forecast next week: in terms of Shanghai zinc, overseas macro liquidity easing news this week, superimposed domestic interest rate cut expectations, the degree of internal and external price repair is limited, it is expected that next week the import window is still difficult to open, the inflow of imported zinc may still be limited. Domestically, the new smelter overhaul this week has exceeded market expectations and led to the strengthening of Shanghai zinc, but there is no new smelter overhaul next week, and the supply side is more stable as a whole. On the consumer side, orders for galvanized sheet increased month-on-month, which basically offset the reduced demand of galvanized pipe enterprises due to production losses. in addition, die-casting zinc alloy and brass enterprises entered the off-season demand, and zinc oxide was slightly better driven by the warming of automobile plates. Overall, the fundamentals are not strong next week. But next week, the central bank reverse repo operation and market interest rate cut expectations, a significant boost to the market macro sentiment, it is expected that next week's macro news impact is greater than the fundamentals, the overall positive mood is strong, zinc prices are expected to still have action next week. From a technical point of view, zinc prices jumped on the moving average this week, slightly suppressed above the Wanqi pass, but it is expected to break through next week. Overall, next week, Lun Zinc is expected to run at US $2,100 per ton at 2050Mel; 2008 of the main contract for Shanghai Zinc is expected to run at RMB17150 / ton at RMB16750, and the spot side is expected to raise water at around RMB120 per ton in July.

Processing fee: the processing fee of zinc concentrate in domestic area is stable, and the domestic and imported processing fee bottomed out in June. According to SMM understanding, with Hechi South and other regions to take the lead in raising processing fees, smelters in various regions have begun to prepare for next month's processing fee negotiations, from the current communication between SMM and various smelters, smelters plan to increase domestic zinc concentrate processing fees in July by 100,000200 yuan / metal ton, while mining enterprises on the July zinc ore processing fees as a whole maintain a motionless attitude, or a maximum increase of 50million yuan / metal ton. Judging from the recent arrival of zinc concentrate at the port, zinc concentrate has been arriving in Hong Kong one after another this week. Lianyungang inventory has returned to around 120,000 physical tons, but Fangchenggang inventory has dropped slightly to 1.8W physical tons.

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Catalogue of "SMM Zinc Industry chain Weekly report" in this issue

Main points of this weekly report: processing fees, import profit and loss inventory

Hot spots of zinc industry: the sharp decline in zinc concentrate inventory in Lianyungang and Fangchenggang reflects the significant demand of smelters.

Zinc concentrate market: domestic zinc concentrate processing fees are stable in June and import processing fees have bottomed out.

Refinery dynamics

Imported zinc market: small upward revision of internal and external price comparison. Short-term import window is difficult to open.

Zinc market predicts next week: overseas supply-side pressure still exists and domestic macro-positive sentiment is high.

Review of Zinc City: the overall performance of zinc prices hitting low and rebounding in the two cities is relatively strong.

Galvanizing: the production of galvanized tubes in some areas turned to loss, and the terminal orders of each plate were divided.

Die-casting zinc alloy: the contribution of low start-up of die-casting zinc alloy plant to zinc consumption is still limited.

Zinc oxide: consumption supports zinc oxide enterprises to start work steadily

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[China Zinc Industry chain High-end report] SMM exclusive monthly survey of zinc industry chain report, covering from zinc concentrate to zinc primary consumer operating rate and supply and demand profile. And announce the exclusive monthly zinc concentrate, refined zinc balance, continue to track the industry entity enterprises, update data. And through the supply and demand situation and data model to make a simple prediction of the future trend of zinc. "View details