Metals News
[agency Review] Macro-risk aggravates Zinc and Nickel departure and wait-and-see
Source:Wenhua Finance and Economics
The content below was translated by Tencent automatically for reference.

SMM News: on Monday, Huawei blacklist incident again twists and turns, macro risks intensified, zinc and nickel fell sharply. As of 14:52, Shanghai zinc main contract ZN1907 was 20610 yuan / ton, down 2.04%, and Shanghai nickel main contract NI1907 was 97250 yuan / ton, down 0.85%.

In terms of zinc, on the 20th of this month, Huludao overhauled, superimposed Hunan Zhuzhou smelter and Huayuan new production capacity climbed smoothly, the speed of domestic storage slowed down, and the high level of processing fees fell. Before the macro-level did not improve, the trend of short-term zinc prices may be weak. In terms of nickel, the 13th RKEF heating furnace in the Delong Phase I nickel-iron project in Indonesia is expected to be released by the end of May, and Jinchuan, Indonesia, will also be fully released in July. In the second quarter, the nickel-iron mine will be released beyond expectations, the stainless steel stocks in the two places remain high, and the import window continues to open. Downward pressure on nickel prices remains high. Last week, the market fluctuated widely amid the unknown prospects for Sino-US economic and trade relations. This week, in addition to continuing to pay attention to the trends of the Sino-US trade negotiations, we also need to pay attention to the latest developments in Britain's Brexit. In addition, Europe will hold five-year parliamentary elections on Thursday, and any more than expected information will significantly amplify the volatility against the backdrop of the current surge in macro risks.

Operation suggestion: zinc, nickel wait and see.

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