Macro bearish superimposed fundamental weakness Shanghai Zinc returns to decline-Shanghai Metals Market

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Macro bearish superimposed fundamental weakness Shanghai Zinc returns to decline

Translation 11:06:39AM Jun 04, 2019 Source:Wenhua Finance and Economics
The content below was translated by Tencent automatically for reference.

SMM News: most of the non-ferrous metals floating green, of which Shanghai zinc led by more than 2%, futures prices briefly stabilized last week to return to the decline, and to 20000 yuan / ton line of support.

Recently, trade frictions around the world have caused market sentiment to continue to be on the short side, and manufacturing PMI data in major countries have declined to varying degrees, superposing the obvious upside down of US bond yields, and worries about the demand outlook have perplexed the metal market. The fundamentals of zinc are relatively weak, in June, stimulated by the absolute high processing fees, smelter capacity will continue to accelerate the recovery, and the demand side is difficult to improve, the price rebound power is not enough.

Key Words:  Shanghai zinc  price forecast  macro 

Macro bearish superimposed fundamental weakness Shanghai Zinc returns to decline

Translation 11:06:39AM Jun 04, 2019 Source:Wenhua Finance and Economics
The content below was translated by Tencent automatically for reference.

SMM News: most of the non-ferrous metals floating green, of which Shanghai zinc led by more than 2%, futures prices briefly stabilized last week to return to the decline, and to 20000 yuan / ton line of support.

Recently, trade frictions around the world have caused market sentiment to continue to be on the short side, and manufacturing PMI data in major countries have declined to varying degrees, superposing the obvious upside down of US bond yields, and worries about the demand outlook have perplexed the metal market. The fundamentals of zinc are relatively weak, in June, stimulated by the absolute high processing fees, smelter capacity will continue to accelerate the recovery, and the demand side is difficult to improve, the price rebound power is not enough.

Key Words:  Shanghai zinc  price forecast  macro