Short NZDUUSD

Long AUDJPY

Short XAUUSD

Short EURUSD

Short WTIUSD in short time period

Long GBPUSD

XAU/USD today status according to market's news

Short AUD/USD

Short AUDUSD

Long EURUSD

WTI Crude Oil Market Outlook

Short USDJPY

Gold falls, interest rate cut expectations are too high

AUD/CNH Short-Term Trading Strategy

美股暴跌之下，避险资产承压

The impact of PCE

USDCNH Intraday Analysis and Trading Plan for August 30, 2024

AUDUSD Intraday Analysis and Trading Plan for August 30, 2024

Selling on the high side, aligning with intraday data

Long Brent

Bitcoin Intraday Analysis and Trading Plan for August 29, 2024

XLM Intraday Analysis and Trading Plan for August 29, 2024

XRP Intraday Analysis and Trading Plan for August 28, 2024

Bitcoin Cash Intraday Analysis and Trading Plan for August 28, 2024

EURUSD Intraday Analysis and Trading Plan for August 27, 2024

Gold Intraday Analysis and Trading Plan for August 27, 2024

Bitcoin Intraday Analysis and Trading Plan for August 26, 2024

USDCAD Intraday Analysis and Trading Plan for August 26, 2024

Short USD/JPY

Short GBPNZD

Long AUDUCAD

DJ30 Intraday Analysis and Trading Plan for August 24, 2024

NAS100 Intraday Analysis and Trading Plan for August 24, 2024

Gold Price Analysis: Retracement Strategy and Impact of Powell's Speech

EURJPY Intraday Analysis and Trading Plan for August 23, 2024

S&P500 Intraday Analysis for August 23, 2024

AUDCAD Intraday Analysis and Trading Plan for August 21, 2024

USDCNH Intraday Analysis and Trading Plan for August 21, 2024

AUD/JPY Trading Strategy

XRP Intraday Analysis and Trading Plan for August 20, 2024

AUDUSD Intraday Analysis and Trading Plan for August 20, 2024

NZDCAD Intraday Analysis and Trading Plan for August 19, 2024

USDCAD Intraday Analysis and Trading Plan for August 19, 2024

Short NZD/CAD

DJ30 Intraday Analysis and Trading Plan for August 16, 2024

NAS100 Intraday Analysis and Trading Plan for August 16, 2024

England inflation affection

GBPJPY Intraday Analysis and Trading Plan For August 14, 2024

AUDCAD Intraday Analysis and Trading Plan For August 14, 2024

Gold price may keep rising

EURJPY Intraday Analysis and Trading Plan For August 13, 2024

AUDCHF Intraday Analysis and Trading Plan For August 13, 2024

EURCHF Intraday Analysis and Trading Plan For August 12, 2024

Bitcoin Cash Intraday Analysis and Trading Plan For August 22, 2024

GBPAUD Intraday Analysis and Trading Plan For August 22, 2024

Bitcoin Intraday Analysis and Trading Plan For August 9, 2024

XLM Intraday Analysis and Trading Plan For August 9, 2024

Litecoin Intraday Analysis and Trading Plan For August 8, 2024

Chainlink Intraday Analysis and Trading Plan For August 8, 2024

Polkadot Intraday Analysis and Trading Plan For August 7, 2024

Bitcoin Cash Intraday Analysis and Trading Plan For August 7, 2024

S&P500 Intraday Analysis For August 6, 2024

Factors influencing the recent USD/JPY decline

AUS200 Intraday Analysis and Trading Plan For August 6, 2024

ETH Intraday Analysis and Trading Plan For August 6, 2024

ETH Intraday Analysis and Trading Plan For August 5, 2024

AUDUSD Intraday Analysis and Trading Plan For August 5, 2024

USDCNH Intraday Analysis and Trading Plan For August 2, 2024

Gold price is continuously increasing

AUS200 Intraday Analysis and Trading Plan For August 2, 2024

XRP Intraday Analysis and Trading Plan For August 2, 2024

XRP Intraday Analysis and Trading Plan For August 1, 2024

Bank of Mitsubishi (8306) and Bank of Mitsui (8316) hold a significant advantage

France’s CAC 40 Intraday Analysis and Trading Plan For July 30, 2024

NZDCAD Intraday Analysis and Trading Plan For July 30, 2024

Today's gold

GBPCAD Intraday Analysis and Trading Plan For July 30, 2024

USDCAD Intraday Analysis and Trading Plan For July 29, 2024

DJ30 Intraday Analysis and Trading Plan For July 29, 2024

NAS100 Intraday Analysis and Trading Plan For July 29, 2024

GBPJPY Intraday Analysis and Trading Plan For July 26, 2024

Gold against the US Dollar (XAUUSD)

AUDCAD Intraday Analysis and Trading Plan For July 26, 2024

EURJPY Intraday Analysis and Trading Plan For July 26, 2024

AUDCHF Intraday Analysis and Trading Plan For July 25, 2024

USDCAD Intraday Analysis and Trading Plan For July 25, 2024

AUDCHF Intraday Analysis and Trading Plan For July 24, 2024

GBPCAD Intraday Analysis and Trading Plan For July 23, 2024

GBPAUD Intraday Analysis and Trading Plan For July 22, 2024

DJ30 Intraday Analysis and Trading Plan For July 22, 2024

Intraday Trading Strategy: Bearish stance

AUS200 Intraday Analysis and Trading Plan For July 22, 2024

EURAUD Intraday Analysis and Trading Plan For July 21, 2024

USDCAD Intraday Analysis and Trading Plan For July 20, 2024

EURCHF Intraday Analysis and Trading Plan For July 19, 2024

CADCHF Intraday Analysis and Trading Plan For July 18, 2024

XRP Intraday Analysis and Trading Plan For July 18, 2024

Zinc futures are traded around $2,915 per tonne, near the highest since late August, driven by optimism for potential stimulus measures in China after President Xi Jinping urged efforts to meet economic targets, fueling expectations for higher demand. On the supply side, Swedish miner Boliden delayed its Odda zinc smelter expansion in Norway, now expected to be completed in 2025, which may tighten future supplies. Meanwhile, global zinc market conditions tightened as the surplus narrowed to 8,700 metric tons in June from 44,000 in May. Additionally, China's refined zinc output dropped 10.3% in July due to heavy rainfall and maintenance disruptions. However, LME zinc inventories grew 2.6% to 217,575 tonnes in August.

Zinc Gains on China Stimulus Expectations and Supply Tightening

Zinc increased to a 9-week high of 2943.00 USD/T. Over the past 4 weeks, Zinc gained 5.56%, and in the last 12 months, it increased 15.74%.

Zinc Hits 9-week High

Zinc decreased to a 4-week low of 2694.00 USD/T. Over the past 4 weeks, Zinc lost 1.49%, and in the last 12 months, it increased 7.67%.

Zinc Hits 4-week Low

Zinc futures fell to $2,825 per tonne, down from a 5-week high of $2,934, driven by a supply surplus and weak demand. The global refined zinc market saw a surplus of 228,000 tons in the first half of 2024, according to the International Lead and Zinc Study Group. Additionally, around half of global zinc demand originates from the construction sector, which has been particularly weak in both China and Europe, further pressuring prices. In China, the world’s largest refined zinc producer, smelters have cut production to cope with rising losses due to declining demand and processing fees that have plunged further below zero. China's primary refined zinc production is estimated to have dropped by 2.8% year-on-year to 3.67 million tons between January and July, partly due to heavy rainfall in Sichuan province.

Zinc Price Falls From 5-Week High

Zinc prices rebounded to $2,805 per tonne, with analysts predicting a potential upward trend as refined output increases, leading zinc to gain more momentum once macroeconomic concerns ease. Additionally, any positive developments in China's property sector could provide additional support for zinc. Meanwhile, a rise in zinc mine supply is expected, particularly from new projects in Africa and South America, which could push the market into surplus by 2025. However, analysts remain cautious, indicating that the expected growth in supply may not be as strong as anticipated.

Zinc Price Recovers

Zinc increased to a 4-week high of 2782.00 USD/T. Over the past 4 weeks, Zinc lost 3.67%, and in the last 12 months, it increased 21.7%.

Zinc Hits 4-week High

Zinc decreased to a 17-week low of 2610.00 USD/T. Over the past 4 weeks, Zinc lost 10.4%, and in the last 12 months, it increased 6.07%.

Zinc Hits 17-week Low

Zinc prices have dropped to around $2,780 per tonne, marking a 1-Month low, primarily driven by disappointing economic data from China, the world's largest zinc consumer, and diminished demand from industrial users. Concurrently, increased zinc supply has pressured prices downward, with China's refined zinc output rising by 6.26% to 536,200 metric tons and zinc inventories in the Shanghai Bonded Zone growing despite closed import windows. Additionally, zinc inventories at London Metal Exchange warehouses surged by 9%, highlighting a market surplus.

Zinc Price at 1-Month Low

Zinc decreased to a 4-week low of 2842.00 USD/T. Over the past 4 weeks, Zinc lost 0.85%, and in the last 12 months, it increased 20.56%.

Zinc prices stabilized around $2,935 per tonne , driven by expectations of increased demand in China following recent price drops and ongoing supply concerns. Global zinc mine production decreased by 2% in 2022, another 1% in 2023, and a further 3% year-on-year in the first quarter of 2024 according to analysts. The People's Bank of China’s reinforcement of its easing monetary stance further supported market sentiment. However, gains were limited as China's industrial output slowed more than expected in May, reflecting weak industrial demand after a contraction in manufacturing PMI.

Zinc Price Stabilizes

Zinc increased to a 4-week high of 2976.00 USD/T. Over the past 4 weeks, Zinc gained 1.02%, and in the last 12 months, it increased 25.71%.

Zinc prices have fallen to $2,800 per tonne, largely influenced by reduced demand from China, the world's top zinc importer. In China, zinc concentrate imports decreased by 24% in the first four months of this year compared to the previous year, driven by a tightening raw materials market. The spot treatment charges for imported zinc concentrates have plummeted to $30-50 per ton, which is insufficient to cover processing costs for many Chinese smelters. As a result, Chinese smelters are increasingly turning to domestic sources for their zinc supply.

Zinc Price Falls

Zinc traded around $2,880 a tonne, falling back to early May levels, as China’s manufacturing PMI was below market expectations, pointing to a contraction in manufacturing activity of the world’s largest metal consumer and dampening demand further. As zinc is a vital building material, it has faced headwinds from property crisis in China where unsold home inventories hit an eight-year peak. Consequently, Chinese authorities unveiled a historic support package, having lowered the minimum mortgage interest rate to 15% for first-time buyers and 25% for second-time buyers. Coupled with hopes for interest rate cuts, these moves might bolster the commodity's industrial outlook.

Zinc at 5-Week Low

Zinc decreased to a 5-week low of 2872.00 USD/T. Over the past 4 weeks, Zinc lost 2.43%, and in the last 12 months, it increased 24%.

Zinc Hits 5-week Low

Zinc increased to a 15-month high of 3144.00 USD/T. Over the past 4 weeks, Zinc gained 7.42%, and in the last 12 months, it increased 36.5%.

Zinc Hits 15-month High

Zinc steadied below $3,00 a tonne after reaching a one-year high on May 13th, as investors evaluated the key consumer China's economic data and its recent stimulus measures for clues on future construction demand. Since zinc is a vital building material, it has faced headwinds from property crisis in China where unsold home inventories hit an eight-year peak. To address the real estate slump, Chinese authorities unveiled a historic support package, having lowered the minimum mortgage interest rate to 15% for first-time buyers and 25% for second-time buyers. Additionally, Beijing encouraged local governments to purchase homes at "reasonable" prices and convert them into affordable housing. Coupled with hopes for interest rate cuts, these moves bolstered the commodity's industrial outlook. However, optimism was countered by China's weak housing figures. Property sales by floor area in January-April plunged 20.2% year-on-year, while funds raised by developers dropped 24.9%.

Zinc Little Changed, Eyes on China Data and Stimulus

Zinc increased to a 13-month high of 2979.00 USD/T. Over the past 4 weeks, Zinc gained 7.26%, and in the last 12 months, it increased 17.54%.

Zinc Hits 13-month High

Zinc nudged above $2,900 a tonne, hovering near the one-year high set on May 7th, buoyed by positive trade data from China, the world's top consumer and producer. The nation's imports and exports both rose in April, indicating a revival in domestic and foreign demand. Concurrently, the decision by Swedish mining giant Boliden to resume production at its Tara zinc mine, Europe's largest, further bolstered market sentiment. The mine was idled in 2023 due to high energy costs and production difficulties, but it will recommence operations in the fourth quarter of this year and reach full capacity by January 2025. Also, the improved global economic outlook fueled momentum across most base metals after soft labor data from the US raised the possibility of the Fed easing interest rates in September.

Zinc Nudges Higher on China's Positive Signals

Zinc traded above $2,900 a tonne, close to an over-one-year high reached on April 29th and on track to record its biggest monthly gain since 2006 (+18%), underpinned by tight raw material supply and robust funds buying of base metals. In China, fees for processing zinc concentrate into refined zinc fell to their lowest level since at least 2013 (3,200 yuan a ton), a 33% drop compared to last year, due to a shortage of material, SMM data showed. This comes on the back of increased demand expectations since renewable and electric vehicle sectors were set to grow further and hopes resurfaced over top consumer China's economic recovery. According to the latest official survey, the country's manufacturing activities expanded in April. Simultaneously, the commodity was supported by its appeal as a hedge against heightened inflationary risks.

Zinc Posied for Largest Monthly Gain since 2006

Zinc increased to a 12-month high of 2853.00 USD/T. Over the past 4 weeks, Zinc gained 16.77%, and in the last 12 months, it increased 7.81%.

Zinc Hits 12-month High

Zinc dipped below $2,800 a tonne as investors booked profits after the metal's rally to one-year highs on April 19th, fueled by fund buying and supply concerns. Easing fears of a wider Middle East conflict triggered a risk-on mood, diverting capital away from the commodity. Additionally, dwindling expectations of interest rate cuts by the Fed kept the dollar used to price zinc futures near six-month peaks, reducing the purchasing power of consumers. The continued weakness in China's property sector, a top zinc consumer, further hampered metal's construction demand. The cost of new Chinese homes plummeted the most in nine years in March, while real estate investment contracted at an even faster pace of 9.5% during the month. However, a further downturn in zinc was prevented by mine suspensions due to strong inflationary pressures, low outright metal prices, and scheduled maintenance.

Zinc Down, as Investors Book Profits

Zinc prices decreased to around $2,700 a tonne, retreating from their one-year highs reached on April 12th, as firmer dollar overshadowed supply threats. Hot U.S. inflation data prompted investors to scale back their expectations of Fed interest rate cuts, raising the appeal of greenback used to price zinc futures and reducing the purchasing power. Furthermore, the continued slump in the property sector of top consumer China dented the demand for zinc as a building material. Latest releases indicate the cost of new Chinese homes plunged the most in nine years in March, while real estate investment contracted at a faster rate of 9.5% during the month. A further drop in the commodity was prevented by halts in zinc mining operations due to strong inflationary pressures, low outright metal prices, and scheduled maintenance.

Zinc Retreats from 1-Year Highs

Zinc prices surged to around $2,850 a tonne, hitting their highest level in nearly a year, as investors shrugged off the concerns about delayed Fed interest rate cuts and focused on tighter supply outlook. Strong global inflationary pressures and low outright metal prices have strained zinc mining operations, leading to several smelters closures in Ireland and Australia. Analysts anticipate a further decline in output this month due to scheduled maintenance. Additionally, a strengthened belief that the global manufacturing slump had bottomed out boosted the demand for zinc as a building material. A private survey from China, the world's largest zinc consumer, showed that the country's factory activity expanded at the fastest pace in over a year in March, aligning with the official reading. Similar positive signals came from the US manufacturing sector, which grew for the first time in one-and-a-half years, and Germany's industrial output that exceeded market expectations.

Zinc Climbs Higher on Looming Supply Threats

Zinc increased to a 51-week high of 2779.00 USD/T. Over the past 4 weeks, Zinc gained 8.18%, and in the last 12 months, it increased 0.71%.

Zinc Hits 51-week High

Zinc prices rose above $2,700 a tonne, hitting their highest level in nearly a year, propelled by increasing conviction that the global manufacturing slump has bottomed out. A private survey from China, the world's largest zinc consumer, showed that the country's factory activity expanded at the fastest pace in over a year in March, aligning with the official reading and boosting the outlook for the metal as a building material. Elsewhere, the US manufacturing sector grew for the first time in one-and-a-half years, and Germany's industrial output topped market estimates. Furthermore, fears of supply shortage have contributed to the upward movement after a number of mines announced their closure, including Boliden's Tara operation in Ireland and Glencore's McArthur River zinc and lead mine in Australia.

Zinc on a Tear: Manufacturing Data in Focus

Zinc increased to a 9-week high of 2577.00 USD/T. Over the past 4 weeks, Zinc gained 4.95%, and in the last 12 months, it decreased 7.64%.

Zinc prices rose to nearly $2,500 a tonne, retreating slightly from an almost four-week low recorded on March 27th amid improved outlook from top consumer China. A private survey showed that the country's manufacturing activity grew at the fastest pace in over a year in March, signaling gradual recovery of the economy. The reading also came in line with the official factory survey which pointed the first expansion in the sector in six months and upbeat trade data. Still, zinc continued to face headwinds from uncertain demand prospects in the real estate sector where the metal is used as a building material. The value of new homes from the 100 largest Chinese real estate companies plunged by 46% last month. Additionally, elevated inventories at LME warehouses (at around 270,000 tons) contributed to the negative sentiment.

Zinc Retreats from Recent Lows on Chinese Data

Zinc prices dropped under $2,500 a tonne, their lowest level in nearly three weeks, amid uncertain demand outlook from top consumer China. Although the country's industrial output and consumption surpassed expectations in January-February 2024, the crisis in the real estate sector persisted, hurting the need for zinc as a building material. According to the latest data, China's new property sales plunged annually by 29.3% in the first two months of the year, while property investment fell at a steeper 9%. Additionally, elevated inventories at LME warehouses (at around 270,000 tons) contributed to the negative sentiment. Further downturn was prevented by the disruptions in major zinc mines. Glencore has recently communicated the halt of operations at its McArthur River zinc and lead mine in Australia due to heavy rainfall. Previously, Volcan and Tara announced the suspension of their activities.

Zinc Extends Falls to 3-Weeks Lows

Zinc prices dropped to around $2,500 a tonne, pressured by fears of increased output since Glencore 's Nordenham zinc smelter resumed production after being on care and maintenance for over a year. Additionally, elevated inventories at LME warehouses, exceeding 275,000 tons, have contributed to the negative sentiment. Meanwhile, the demand outlook for the commodity remained uncertain. The top consumer China's industrial output surpassed expectations, growing by 7% annually over January and February, indicating resilience in the manufacturing sector. However, the concerns in the real estate sector persisted since property investment continued to decline, hurting the need for zinc as building material. On the positive side, the metal was underpinned by expectations of interest rate cuts from major central banks.

Zinc Declines as Glencore Nordenham Smelter Resumes Production

Zinc prices rose above $2,500 a tonne, their highest level in over a month, fueled by supply concerns, as Seokpo smelter in South Korea has cut its output by a fifth. The considerate cut by the world's six-largest smelter and its potential shutdown could narrow the expected market's surplus of 300,000 ton or send it into a deficit. Additionally, zinc was underpinned by hopes of higher demand since the latest remarks from Fed policymakers and softer-than-anticipated labour market data from the US solidified bets of interest rate reductions this year. On the other hand, the downward pressure on the commodity was exerted by uncertain economic recovery of leading consumer China. The country's government did not roll out additional stimulus measures during its parliament meeting even though China's manufacturing activity continued to contract for the fifth month in February. Also, zinc was negatively affected by elevated inventories at LME warehouses (above 275,00 tons).

Zinc Extends Gains on Supply Worries

Zinc prices rose to nearly $2,500 a tonne, their highest level in over a month, lifted by hopes of higher demand, as the latest remarks from Fed policymakers and softer-than-anticipated labour market data from the US solidified bets of interest rate reductions this year. In his remarks to the congressional testimony, Fed Chair Powell confirmed that monetary easing was likely to commence in 2024 but more proof is needed of inflation's return to the 2% target. On the other hand, the downward pressure on the commodity was exerted by uncertain economic recovery of leading consumer China. The country's government did not roll out additional stimulus measures during its parliament meeting even though China's manufacturing activity continued to contract for the fifth month in February. Also, zinc was negatively affected by elevated inventories at LME warehouses (above 275,00 tons).

Zinc Rises on Monetary Easing Bets

Zinc prices rose to around $2,450 a tonne, their highest level in a month, lifted by hopes of support measures from top consumer China. The National People's Congress will take place this week in China (March 5th - 11th), and Beijing is expected to unveil more stimulus to boost the country's growth following the weak economic data. China's manufacturing activity in February shrank for a fifth straight month. Meanwhile, the Caixin General Manufacturing PMI went up to 50.9 in the period, painting the mixed picture of the sector and confirming the need for a profounder stimulus. Among negative factors affecting the commodity, high inventories at LME warehouses (275,950 tons) and bets of delayed interest rate cuts from the Fed pressured the demand.

Zinc Rises to 1-Month Highs on Stimulus Hopes

Zinc prices stabilized near $2,400 a tonne, down by around 10% since the beginning of the year, amid fears of oversupply and lagging recovery of top consumer China. Zinc's use in galvanised steel causes its heavy exposure to the country's weakened construction sector. Although the PBoC cut its five-year loan prime rate by 25 bps to spur the economy, the latest data from China showed new home sales plummeted by 34% yoy in the previous month, underscoring falling demand and unwillingness of consumers to make large purchases. Additionally, bets on delayed interest rate cuts from the Fed hindered the outlook for the commodity.

Zinc Steadies Near $2,400 a Tonne

Zinc prices fell under $2,400 a tonne, their lowest level since the end of August 2023, pressured by growing inventories and demand worries amid continued weakness in real estate sector of top consumer China. Since zinc is mainly used for galvanized steel, half of the demand for the commodity comes from construction. However, virtually every public or listed Chinese developer is currently experiencing default, and the country's official Manufacturing PMI has pointed to fourth consecutive month of contractions. Adding to the bearish sentiment, zinc inventories at LME warehouses surged by more than 14% in the past two weeks, reaching a one-month high. Also, higher dollar and elevated interest rates dented the appeal of base metal after stronger-than-anticipated US data. Overall, in 2024, the zinc market is projected to record a surplus of 367,000 metric tons, according to the International Lead and Zinc Study Group (ILZSG)

Zinc Hits Over-5-Month Low

Zinc prices fell below $2,450 a tonne, their lowest level since mid-December, pressured by renewed pessimism around top consumer China's manufacturing sector and strength in the US dollar. According to latest economic data, the country's factory activity contracted again in January. Coupled with producer deflation, the reading underlined the insufficient extent of central and local government's measures to stall a broader slump in the sector. Furthermore, weak yuan limited the chances for monetary easing by China's central bank. Meanwhile, higher dollar and elevated interest rates dented the appeal of base metals after US jobs report came hotter-than-anticipated. Overall, for 2024, the International Lead and Zinc Study Group (ILZSG), projected zinc market to record a surplus of 367,000 metric tons.

Zinc Extends Declines on China's Pessimism

Zinc prices eased to around $2,500 a tonne from the three-weeks high touched on January 24th, as investors capitalized on profits after the central bank of top metals consumer China announced a deep cut to the cash reserves to support the struggling economy. On the other hand, the commodity's outlook remained negative since stronger dollar and high interest rates weighed down real estate and capital project investments, subsequently reducing the usage of base metals. Overall, for 2024, the International Lead and Zinc Study Group (ILZSG), projected zinc market to record a surplus of 367,000 metric tons.

Zinc Prices Down amid Profit-Taking

Zinc prices dropped to around $2,500 a tonne, down by 4.6% since the beginning of the year, as industrial outlook deteriorated after China's data dulled hopes for the fast economic recovery of the top consumer. The country's GDP grew by 5.2% yoy in Q4, coming short of market expectations and highlighting the insufficient extent of government measures. Additionally, the global demand prospects remained subdued after several central bankers stated they wouldn't commence the cutting cycles until there's proof of inflation's convergence towards target. High interest rates weigh down real estate and capital project investments, subsequently reducing the usage of base metals. Overall, for 2024, the International Lead and Zinc Study Group (ILZSG), projected zinc market to record a surplus of 367,000 metric tons.

Zinc Prices Down after China Data

Zinc steadied near $2,500 a tonne, easing from an over 7-month high recorded at the end of December, as investors continued to weigh industrial outlook after the US data dulled expectations of earlier monetary easing by the FED. In 2024, zinc market is headed for another surplus, with the output growth set to outpace demand. Still, the support for the metal comes from hopes of fuller economic recovery of top consumer China. According to the latest data, the country's exports grew more than anticipated in December, signaling gradual improvement in trade. Meanwhile, another month of consumer and producer deflation prompted investors to bet on lower interest rates from China's central bank.

Zinc Prices Steady Near 1-Month Lows

Zinc prices traded above $2,500 a tonne, not far from an over 7-month high touched at the end of December, as the industrial outlook improved on hopes of early interest rate cuts by major central banks and fuller economic recovery of top consumer China. According to the latest data, the country's official PMI fell to 49 in December from 49.4 the previous month, supporting the case for more stimulus measures from the government. Meanwhile, Caixin/S&P Global manufacturing purchasing managers' index (PMI) rose to 50.8 in the period, surpassing market forecasts and pointing to the slight recovery. Still, the commodity remained pressured by prospects of another market surplus in 2024, as the output growth was set to outpace demand. In 2023, zinc prices dropped by 13%.

Zinc Prices Hold Close to Over 7-Month High

Zinc prices rose above $2,500 a tonne in December, their highest in over a month and in line with the trend of base metals, as the industrial outlook for the next year improved on hopes of early interest rate cuts from major central banks and fuller economic recovery of top consumer China. Although the country reported another month of factory-gate deflation, its Caixin China General Manufacturing PMI rose to 50.7 in November 2023, indicating gradual rebound of the sector. Furthermore, expectations of more stimulus measures from Beijing and monetary easing by PBOC added to the optimism. Nevertheless, zinc was set to end year 13% down, since larger-than-anticipated supply and weaker demand pushed the market into surplus after two years of shortfall. According to the statement by International Lead and Zinc Study Group, the global refined zinc market was headed for a surplus of 248,000 metric tons this year, compared with an April's projection of 45,000 tons deficit.

Zinc Prices Extend Gains, But Set to Decrease Over Year

Zinc prices rose above $2,500 a tonne, rebounding slightly from an over three-month low touched on December 8th and mirroring the trend in base metals, as the industrial outlook improved after the Fed adopted a softer tone and signaled three interest rate cuts in 2024. Additionally, the continued mine closures in Europe underpinned the commodity. Still, zinc prices remained pressured by subdued demand, with LME warehouse inventories hovering near two-year highs. Also, the uneven recovery in China, one of the top consumers, provided little relief. Despite Beijing's efforts to stimulate the economy, the country recorded a fall in imports and another month of deflation.

Zinc Prices Go Higher

Zinc prices dropped below $2,500 a tonne in December, their lowest level in over a month, as signs of robust supply alleviated concerns about mine closures. LME warehouse zinc inventories surged to 226,250 at the end of November, hitting a more-than-two-year high and signaling subdued economic activity. Additionally, data from the International Lead and Zinc Study Group showed that global zinc market reached a surplus of 489,000 tons in the first eight months of the year, compared to a 156,000-ton surplus in the same period of 2022. On the other hand, the fall in prices was limited by hopes of economic recovery in top consumer China after a set of stimulus measures from Beijing and unexpected increase in Caixin Manufacturing PMI in November.

Zinc Prices Fall amid High Inventories

Zinc prices rose above $2,500 a tonne in November, underpinned by expectations of decreased output and hopes for the end of monetary tightening by major central banks. Nyrstar, one of the leading zinc producers, announced the temporary closure of two of its mines in the U.S. at the end of the month due to the impact of inflation. The shutdown followed halts of operations in Ireland and Portugal, further reducing an anticipated zinc production in 2024. Still, the metal remained around 20% down since the start of the year, with the supply set to exceed demand. According to the International Lead and Zinc Study Group, the global refined zinc market is projected to reach a surplus of 248,000 metric tons in 2023, a significant shift from the earlier estimate of a 45,000 tons deficit. The need for zinc as the construction material has been declining due to ongoing challenges in China's property sector. On the other hand, relief was offered by the country's fresh package of stimulus measures.

Zinc Prices Go Up after Mines Closure

Zinc prices edged up to around $2,500 a tonne in October, underpinned by renewed stimulus measures for China, particularly increased budget deficit ratio and the injection of sovereign debt into the economy. Also, reduced production from Europe and Australia due to high energy costs supported the positive momentum. Still, the metal remained 20% down since the beginning of the year, as the supply was set to outweigh demand. According to the statement by International Lead and Zinc Study Group, the global refined zinc market was headed for a surplus of 248,000 metric tons this year, compared with a previously projected deficit of 45,000 tons due to lower than anticipated demand. The world demand for refined zinc is now seen increasing by 1.1% to 13.59-million tons in 2023, less than 13.80 million tonnes estimated in April amid tight monetary conditions.

Zinc Prices Go Higher amid China Stimulus

Zinc prices dropped to around $2,400 a tonne, remaining 18% down since the beginning of the year, as the outlook for the commodity worsened, with supply set to outweigh demand. According to the statement by International Lead and Zinc Study Group, the global refined zinc market is headed for a surplus of 248,000 metric tons this year, compared with a previously projected deficit of 45,000 tons due to lower than anticipated demand. The world demand for refined zinc is now seen increasing by 1.1% to 13.59-million tons in 2023, less than 13.80 million tonnes estimated in April amid tight monetary conditions. On the other hand, the support for the metal comes from China's fresh stimulus measures, particularly the widening of the budget by extra CNY 1 trillion. Also, reduced production from Europe and Australia due to high energy costs keeps the floor under the prices.

Zinc Prices Extend Decline

Zinc prices dropped below $2,500 a tonne, easing from an over four-month high touched on September 29th, as the outlook for the commodity worsened, with supply set to outweigh demand.  According to the statement by International Lead and Zinc Study Group, the global refined zinc market is headed for a surplus of 248,000 metric tons this year, compared with a previously projected deficit of 45,000 tons due to lower than anticipated demand. The world demand for refined zinc is now seen increasing by 1.1% to 13.59-million tons in 2023, less than 13.80 million tonnes projected in April amid tight monetary conditions. On the other hand, the support for the metal comes from hopes for China's economic recovery after the positive PMI data. Also, expectations of reduced production from Europe and Australia limited the decline.

Zinc Prices Drop, Market Set for Surplus

Zinc prices slid to around $2,500 a tonne, easing from the four-month high touched on September 14th, amid globally subdued demand outlook after the hawkish rhetoric from the Fed. On the other hand, expectations of reduced production and positive data and stimulus measures from top buyer China supported the appetite for the metal. The recent figures showed China took in 76,800 metric tons of zinc in July, the highest monthly tally since April 2019. As for the supply, China's domestic output of refined zinc this year has risen, but the market remained impacted by dwindling inventory levels and constrained time spreads. Meanwhile, small and medium-sized zinc mines, especially those in Europe and Australia, are facing challenges in profitability, due to high operating costs and sliding prices. Almina-Minas do Alentejo in Aljustrel was the latest zinc mine to undergo suspension until the second quarter of 2025.

Zinc Prices Lower to $2,500

Zinc prices traded above $2,500 a tonne, hovering around their highest since early August, on an improved demand outlook amid expectations of more stimulus measures to revive the economy of top buyer China. Meanwhile, recent data showed China took in 76,800 metric tons of metal in July, the highest monthly tally since April 2019. In spite of the rise in China's domestic production of refined zinc this year, the Shanghai market has still been impacted by dwindling inventory levels and constrained time spreads. Concurrently, there are still evident signs of persistent supply constraints. Small and medium-sized zinc mines, especially those in Europe and Australia, are facing challenges in profitability, due to high operating costs and sliding prices. Almina-Minas do Alentejo in Aljustrel was the latest zinc mine to undergo suspension until the second quarter of 2025.

Zinc Prices at Over 1-Month High

Zinc prices rose to nearly $2,490 a tonne, hovering around three-weeks highs, as concerns about prolonged monetary tightening from the Fed faded and hopes for the recovery of top buyer China increased. China's leading constructors posted weak quarterly results, prompting the government to step up with it support measures. In its latest step, the country's central bank issued notices to loosen some borrowing rules, including the reduction of the existing mortgage rate for first-home buyers and the down payment ratio in some cities. Also, low inventories at LME warehouses and China's positive PMI bolstered the sentiment. Looking forward, S&P Global anticipates a moderate growth of 1.4% in the worldwide demand for refined zinc in 2023. Meanwhile, global refined zinc supply is expected to increase by 1.9%, attributed to a vase effect and easing energy costs in Europe. Zinc smelter production in China remains constrained due to power restrictions.

Zinc Prices at Three-Weeks Highs

Zinc prices hovered around $2,400 a tonne, not far from the two-and-a-half-month bottom touched on August 16, as concerns about prolonged monetary tightening and weak recovery in top buyer China weighed on demand prospects. The latest data from Europe and the US showed the economies' resilience and raised bets that interest rates could stay elevated longer, hurting the need for metals. Also, China's construction sector came under the pressure of high debt levels, low sales, and unfinished projects. Still, the package of financial measures from Beijing and lower inventories at LME warehouses supported commodity. Looking forward, S&P Global anticipates a moderate growth of 1.4% in the worldwide demand for refined zinc in 2023. Concurrently, global refined zinc supply is expected to increase by 1.9%, attributed to a low base year and easing energy costs in Europe. Zinc smelter production in China remains constrained due to power restrictions.

Zinc Prices Hover Around $2,400

Zinc prices have fallen below $2,300 a tonne to a nearly two-and-a-half-month low, as mounting concerns about the slow recovery in top buyer China and piled up inventories weighed on demand prospects. The latest data indicated that zinc inventories in LME-registered warehouses soared by 54% over two days to their highest level in 17 months. Meanwhile, weak manufacturing data and a struggling property sector suggested more stimulus is needed to enhance the world's largest economy. Looking forward, S&P Global anticipates a moderate growth of 1.4% in the worldwide demand for refined zinc in 2023, influenced by ongoing inflation and stringent monetary policies in both the US and Europe. Concurrently, global refined zinc supply is expected to increase by 1.9%, attributed to a low base year and easing energy costs in Europe, while zinc smelter production in China is constrained due to power restrictions.

Zinc Prices Lowest Since Beginning of June

Zinc prices have been easing towards $2,400 a tonne, their lowest since July 21, as mounting concerns about the slow recovery in top buyer China weighed on prospects for demand. In particular, weak manufacturing data and a struggling property sector suggest more stimulus measures are likely needed to enhance the world's largest economy. Looking forward, S&P Global anticipates a moderate growth of 1.4% in the worldwide demand for refined zinc in 2023, influenced by ongoing inflation and stringent monetary policies in both the US and Europe. Concurrently, global refined zinc supply is expected to increase by 1.9%, attributed to a low base year and easing energy costs in Europe, while zinc smelter production in China is constrained due to power restrictions.

Zinc at 3-Week Low

Zinc prices have climbed towards $2,500 a tonne, reaching their highest point since May 18, amid hopes of a recovery in Chinese demand. Beijing has pledged to provide further support to boost growth with a focus on expanding domestic demand, while it has also unveiled measures to support private investment and develop underdeveloped areas in megacities. Looking ahead, S&P Global predicts a modest 1.4% growth in global refined zinc demand for 2023, as both the US and Europe continue to grapple with inflation and tight monetary policies. Simultaneously, global refined zinc supply is expected to increase by 1.9%, considering a low base year and as energy costs in Europe ease, while power curbs in China limit zinc smelter production.

Zinc Hits 2-Month High

Zinc futures were trading below $2,400 a tonne, down from a one-month high of $2,486.5 scaled on June 14th, amid an increase in smelter supply and as concerns that China's demand would recover more slowly than expected persisted. Zinc inventories in London Metal Exchange-registered warehouses have nearly doubled as of June 14th from the prior week to a one-year peak after a shipment arrived in Malaysia. While Some European smelter capacity remains offline, China's producers are lifting production after soaking up surplus concentrates. Swedish producer Boliden has recently decided to halt operations at its Irish facilities, including the Tara Zinc mine, as the mine's cash flow turned negative. Meanwhile, Goldman Sachs Group Inc., after previously projecting a deficit, has shifted to a bearish outlook on zinc, anticipating an oversupply this year and predicting a substantial 659,000-ton surplus in 2025.

Zinc

ZINC

Technical Analysis

People Also Watch

Latest Ideas

Luca Santos

Short NZDUUSD

Luca Santos

Long AUDJPY

Luca Santos

Short XAUUSD

Luca Santos

Short EURUSD

May Chen

Short WTIUSD in short time period

Luca Santos

Long GBPUSD