SMM Network News: internal and external trends: LME zinc concussion fell slightly today, as of 15 to 12 Beijing time, LME zinc was at US $2460 per ton, down 0.32 per cent on the day. The Shanghai Zinc main 1908 contract opened low and high, trading in 19775 to 19540 yuan per ton, closing at 19650 yuan per ton in late trading, up 0.18 percent from the closing price of the previous trading day. The trading volume was 304000 hands, a daily decrease of 656.08 million hands, and a position of 227000 hands, an increase of 10448 hands a day. The base difference was reduced to 280 yuan / ton, and the Shanghai zinc price difference was narrowed to 145 yuan / ton from 1908 to September.
Market focus: the Asian dollar index first suppressed and then rose, and is now trading at 96.847, up 0.09%. Today's market data is light, focusing on small non-farm payrolls data at night.
Spot market: July 3 SMM spot 0 # zinc quotation is 19880 to 19980 yuan / ton, the average price is 130 yuan / ton higher than the previous trading day. SMM reported that market shipments have increased, but the overall circulation has been tightened to a certain extent, but the market receiving force has weakened compared with yesterday, the overall transaction is slightly less than yesterday.
Inventory: today's Shanghai zinc warehouse receipts totaled 40799 tons, a daily increase of 519 tons; as of July 2, LME zinc stocks were at 93500 tons, a daily decrease of 1625 tons, and fell for four days to brush the lowest level since the last two years. At the same time, as of June 28, the Shanghai zinc inventory in the previous period was 79896 tons, a weekly decrease of 6150 tons, ending three consecutive increases.
Main position: Shanghai zinc main 1908 contract top 20 long position 73030 hands, short position 82189 hands, net short position 9159, daily increase 1687 hands, short atmosphere still dominates.
Market research and judgment: July 3 Shanghai zinc main contract low open concussion, fall into low consolidation. During the period, the volatility of the dollar index rose, the strong performance partly depressed the zinc price, at the same time, good progress was made in the meeting between China and the United States, and the economic outlook remained bleak. On the other hand, the inventory of zinc in the two cities decreased, which supported the zinc price. Spot, market shipments have increased, but the overall circulation has been tightened to a certain extent, the overall transaction is slightly less than yesterday. Technically, the Shanghai zinc main contract and Brin line off the track to get support, but the KDJ index down cross, still relatively empty. In operation, it is suggested that the Shanghai zinc main 1908 contract can rely on 19800 yuan / ton under the upper air, entry reference 19680 yuan / ton, stop loss reference 20000 yuan / ton. (source: Rida Futures)