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Inflation Cools Down, US Stocks Rise Together, Zinc Price May Increase on July 3rd.

Inflation Cools Down, US Stocks Rise Together; Zinc Prices Increase by 2.20% Over the Week; Declining Industrial Chain Profits and Seasonal Maintenance, Domestic Refinery Supply Contracts, Downstream Demand Cushions Decline with Restocking at Lower Levels; Zinc is Expected to Rise Today.

Over the week, London Zinc experienced volatile upward movement. It opened at $2,345 per tonne, reached a high of $2,397.5, and a low of $2,342. It closed at $2,394.5, up $51.5 or 2.20% from the previous session. The trading volume increased by 1,195 lots to 7,688 lots, while the open interest rose by 464 lots to 181,103 lots. In the evening session, the main Shanghai Zinc contract (2308) traded steadily at a lower level and closed at 20,200 yuan per tonne, up 265 yuan or 1.33%.

Today’s spot zinc price market is estimated to rise: US stocks rose together as inflation data cooled down on Friday, boosting market optimism. London Zinc remained strong and closed higher over the week. The continuous decline in zinc industry chain profits, coupled with the seasonal maintenance period, has led to a slight contraction in domestic refinery output, resulting in limited supply. Additionally, downstream demand is supported by restocking at lower levels, countering the decline. Therefore, it is expected that the spot zinc price will rise today.

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