The European Energy Crisis threatens zinc supply, and the price of zinc has risen to a new high since the end of June.

21st Century Business Herald reporter Peng Qiang Beijing report

As the world's largest zinc producer, Jia Nengke warned in a statement on August 4 that the current European energy supply and price environment are pose a huge threat to zinc supply. At present, a zinc smelting factory in Europe has discontinued production, which will lead to the decline in the company's zinc metal output this year.

Stimulated by this news, zinc prices have risen significantly. On August 4, the price of zinc futures on the London Metal Exchange (LME) jumped again, up up to 8%, the highest increase in the Lun -zinc futures rose to $ 3554/ton, and the closing was reported at $ 3460/ton, an increase of 5.25%.

Beginning in April of this year, the price zinc prices fluctuated all the way, from the position of $ 4540/ton to the year's low point at 2824.5 US dollars/ton in mid -July. Since then, zinc prices have rebounded again. On August 5, Shanghai Zinc rose sharply by 4.06%to close at 24,600 yuan/ton.

Today, zinc prices have risen to the highest position since late June.

Since March this year, the price of many major metals in the global market has shocked, and it is still at a high level in previous years, and the supply has also been tight. In particular, the "empty" scene that Lun Niche appeared, which made many investors worry about this incident again on other metals.

Zinc is a light gray color metal. It has good ductility, abrasion resistance and corrosion resistance. It can make more physical and chemical properties with a variety of metals. It is widely used in steel, metallurgy, and machinery , Electric, Chemical, Light Industry and other fields.

Li Minghao, a senior analyst at the Shanghai Nonferrous Net Zinc Industry, pointed out to the 21st Century Business Herald that the current supply -side contradiction between the overseas metal zinc market is far greater than that of the demand side, and European smelting costs have risen sharply, resulting in the release of European capacity use.

The European energy structure is currently in the process of transformation. The energy crisis caused by the geographical crisis of Eastern Europe has never been completely resolved, resulting in the European zinc smelting plant that is difficult to fully resume production, and the supply surface has almost no large increase. From the perspective of demand, overseas economies have entered a period of recession, market demand performs sluggish, and the speed of LME de -warehouses gradually slows down. On the whole, the demand will be mainly stable.

If it is reflected in the inventory, the inventory of LME Europe and the United States is greatly affected by the supply side and the demand has not really entered the decline. In this context, zinc in Europe and the United States has been in low inventory and low supply and relatively stable demand, which has led to the market's concerns about "squeezing warehouses".

Li Minghao pointed out that the intensification of the contradiction between the supply side has led to the high sensitivity of the market's nerves. Therefore, when large European smelters such as Jianeng announced that they would reduce production or suspected of reducing production, zinc prices would fluctuate in the short term.

The supply side of the domestic market is equally contradictory. The analysis of Shanghai Nonferrous Network pointed out that due to the influence of overseas prices, the smelting factory refused to use imported mines in the first half of the year, and domestic mines were also disturbed by many factors. The above two major reasons have led to most domestic zinc smelting plants due to lack of raw materials.

In May and June of this year, due to the gradual liberalization of multiple control measures, the exported zinc ingot flowed out in large quantities, which led to the rapid decline in domestic seven land inventory and at a relatively low level.

Li Minghao said that in the future, with the opening of the imported mining window, the margin of the mining section is loose, which also means that the refined zinc supply in the third quarter will be relatively stable. After that, the biggest uncertainty is whether the traditional "Golden Nine Silver Ten" consumption season can be fulfilled. Shanghai Nonferrous Network predicts that consumption can still promote the continuous de -inventory of zinc ingots.

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