Consumption starts slowly and prices are weak

After the Spring Festival in China, the zinc prices of Shanghai and London both showed weakness. Driven by macro factors last week, Trump officially signed an announcement to impose high tariffs on imported steel and aluminum products, which will inevitably trigger trade wars among various countries, suppress metal prices, and add more than 70,000 tons of LME zinc inventory on Monday. As a result, zinc prices tumbled in the two cities. On February 23, Shanghai zinc exhibited a gap in the gap and continued to see a big negative line. The two cities fell below each support level and the market sentiment continued to increase. In addition, after the Spring Festival domestic consumption recovery has been slow, domestic stocks have not yet seen a clear and continuing turning point, and it is expected that the domestic and foreign zinc prices may still be weak.