Buy Crypto
Pay with
USD
USD
Buy & Sell
Hot
Supports Visa, Mastercard, SEPA & more
P2P
0 Fees
Flexible trading, zero fees
Gate Card
Use your crypto for payments worldwide
Markets
Trade
Basic
Advanced
Futures
Futures
Access hundreds of perpetual contracts
CFD
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Stocks
CFD
U.S. stock CFD derivatives
US Stocks
Access real US stocks and ETFs
HK Stocks
Trade quality Hong Kong-listed stocks
Korean Stocks
SK Hynix
Real Korean stocks and top assets
Stock Futures
High leverage, 24/7 trading
Tokenized Stocks
Backed by real stock assets
IPO Access
Unlock full access to global stock IPOs
GUSD
3.8%
Mint GUSD for Treasury RWA yields
Stocks Activities
Trade Popular Stocks and Unlock Generous Airdrops
Earn
Launch
CandyDrop
tag
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
IPO Access
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Investment
Square
Square
Post, share, and explore crypto trends
Live
moments live
Live crypto market analysis
Chat
Chat with crypto traders
News
What is happening in crypto
flower_head
More
Promotions
AI
Others
TradFi
2026 World Cup
Rewards
Square
Latest
Hot
News
Profile

CITIC Futures: Awaiting inventory depletion, zinc prices fluctuate at high levels.

K-LinePoet
On the macro front, US-Iran negotiations show optimistic progress, and expectations of a Fed rate hike have declined, but the two sides have yet to reach a formal agreement, leaving macro expectations uncertain. On the supply side, zinc ore processing fees continue to decline, smelter margins are narrowing, limiting the recovery of zinc ingot output. At the same time, the export window for zinc ingot is close to opening, which may ease domestic supply pressure. On the demand side, domestic consumption is gradually entering the off-season, with limited new orders from end users, resulting in generally average demand expectations. Overall, short-term zinc ingot supply pressure is easing, while consumption remains weak, zinc ingot inventories have not yet been drawn down, and zinc prices are fluctuating at high levels. Domestic zinc ingot supply increased month-on-month. Although downstream demand is entering the peak season, end-user demand is weak, presenting a pattern of weak supply and demand, with high social inventories. Attention should be paid to the sustainability of inventory destocking. The US-Iran military conflict has disrupted the supply of zinc ingot and zinc concentrate, and rising energy prices have increased pressure on European zinc smelters. At the same time, the export window for Chinese zinc ingot is close to opening. However, before overseas smelters significantly increase production, LME zinc inventories are unlikely to accumulate continuously in the short term, and current processing fees at domestic zinc smelters are declining, which provides significant support for zinc prices. We believe zinc prices will fluctuate overall. (CITIC Futures)
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments

  • Pinned

Sitemap