Under normal circumstances, the market will take economic growth rate and industrial production growth rate, monetary policy, fiscal policy and industrial policy as important analytical basis for changes in the macroeconomic situation.
2. The relationship between supply and demand According to microeconomics, the relationship between supply and demand directly affects the market pricing of commodities. When the supply of a commodity exceeds the demand, its price will fall, and vice versa. At the same time, price will affect supply and demand in turn, that is, when the price rises, supply will increase and demand will decrease, on the contrary, demand will increase and supply will decrease. This basic principle fully reflects the internal relationship between price and supply and demand.
3. Inventory index is one of the important indicators reflecting the relationship between zinc supply and demand. Inventory is divided into reported inventory and non-reported inventory. Reported inventory, also known as "explicit inventory", is the inventory quantity of zinc in the designated delivery warehouse regularly announced by the futures exchange. Unreported stocks mainly refer to the amount of zinc held by global producers, traders and consumers. Because there is no special organization to count and publish these inventories, unreported inventories are also called "hidden inventories". At present, the futures exchanges that have great influence on the market mainly include Shanghai Futures Exchange and London Metal Exchange.
4. Import and export tariff import and export policy, especially tariff policy, is an important means to control the import and export volume of commodities and balance domestic supply and demand by adjusting the import and export cost of commodities. In June 2003, the export tax rebate rate of zinc and zinc alloys decreased from 65,438+05% to 65,438+065,438+0%, further decreased to 8% in May 2005, and the export tax rebate rate of all refined zinc decreased to 5% from June to 10 in 2006. ⊙99.99% refined zinc retains 5% export tax rebate, other refined zinc and zinc alloy tax rebate is cancelled, and 5% export tariff is added. 20 1 1 July, the import tariff of zinc ingots in China was reduced from 3% to 1%.
5. Changes in the use of refined zinc At present, the galvanizing rate of iron and steel products in China is only about 2 0%, which is still far from the ratio of 55% to 60% in developed countries such as Japan and the United States. In recent years, the demand for galvanized sheet in automobile, household appliances, highways and other industries has increased, which has made the investment and construction of domestic galvanized industry develop rapidly. In the future, with the further upgrading of aluminum processing technology, aluminum will also have a certain substitution effect on zinc.
6. Zinc smelting cost At present, the smelting cost of zinc is mainly composed of zinc raw and auxiliary materials, fuel and power costs, labor costs, manufacturing costs and other costs. The change of zinc concentrate price, fuel and electricity price will have obvious influence on zinc smelting cost.