SMM, April 1-
Overnight, API crude oil stocks in the United States surged 10.5 million barrels last week; Trump called for a $2 trillion infrastructure bill; the Federal Reserve announced an interim buyback agreement arrangement with foreign central banks; Saudi officials said they were interested in armistice talks with the Houthi forces in Yemen; Iraq will increase crude oil production and exports from April; the "new debt king" Gonrak said the US stock market will fall below the low hit in March; G20 finance ministers agreed on a roadmap for implementing G20 leaders' commitments to deal with the epidemic. Overnight, Lun Zinc opened at US $1872 / ton, and at the beginning of the day, Lun Zinc fluctuated and fell, running below the daily average line, probing down US $1864 / ton, entering European trading hours, and then falling back after being expected by the United States to put forward a 2 trillion infrastructure plan. Lun Zinc quickly rose, touching US $1925 / ton, and at the end of the day, it closed up US $1906.5 / ton, up US $42.50 / ton, or 2.28%. Trading volume increased to 8223 hands, position decreased by 723 hands to 224335 hands. Overnight zinc recorded a big positive line, the top pressure 20 moving average, the bottom support 5-day line. In recent days, with frequent gains to boost zinc prices, Trump has overnight called for a $2 trillion infrastructure investment plan, a move that has given a big boost to zinc prices, but there are still uncertainties; domestic tax reform expectations have led traders to hoard goods and boost spot sales, but are less willing to pick up downstream, with prices expected to run in the $1870,920 / tonne range. It is expected that the Shanghai zinc 2005 contract price will run in the range of 14900-15400 yuan / ton, and the domestic Shuangyan zinc contract will increase the water by 60-90 yuan / ton in April.
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