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[SMM Zinc Weekly report selected: zinc fundamentals can still support zinc prices need not be overly pessimistic] SMM expects to produce about 520000 tons in November. At the same time, we are optimistic about the resilience of consumption. on this basis, with the gradual recovery of consumption, the domestic social treasury will continue to go to the treasury. On the whole, fundamentals can still provide support, the current zinc price need not be pessimistic, it is expected that Shanghai zinc will run at 22500-24000 yuan / ton, and the domestic spot price of Shanghai zinc will rise about 300.60 yuan / ton in December. ....
[SMM Zinc Weekly report selected: frequent supply-side disturbances pay attention to the production of zinc smelters] under the influence of power cuts in Inner Mongolia, production cuts in many mines have increased the shortage of zinc mines in the market, and domestic processing fees have been cut again this week by 100 yuan / ton to 3950 yuan / ton. At present, the ingot end of Yuguang and Huludao zinc industry has resumed production, zinc ingot output is expected to be about 501000 tons in October, November is expected to return to about 510000 tons, it is difficult to return to the peak production in the short term. ....
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[SMM Zinc Weekly report selection: frequent supply-side disturbances pay attention to zinc smelter production] in terms of fundamentals, overseas destocking has continued to reach 188650 tons this week, zinc ingot stocks have dropped by nearly 100000 tons in the past half a year, and LME0-3 has been converted to back structure. On the whole, with the sharp rise in electricity costs, smelters have brought great cost pressure to smelters with high energy consumption. Short-term zinc prices or high and wide fluctuations are expected to run at 3600-4000 US dollars / ton next week. ....