SMM, April 2-

Overnight, ADP lost 27000 jobs in March; the House of Representatives will negotiate a fourth stimulus bill after April 20; the ISM manufacturing new orders index fell to its lowest level since 2009; Trump will meet with oil companies to discuss industry aid; the Federal Reserve will relax bank leverage and accounting rules; IMF says the New Crown virus crisis requires a "wartime" policy response. The European Union plans to announce a 100 billion euro loan program to raise money to help the hardest-hit European Union countries; BlackRock and Lubrio Mai, the two major American capital management giants, have moved into China. Overnight, Lun Zinc opened at US $1900 / ton, and Lun Zinc ran below the daily average line. Under the suppression of the upper 20 lines, Lun Zinc fluctuated and fell. Near European trading time, driven by the decline of overseas stock indexes, Lun Zinc fell further, probing down 1847 US dollars / ton, and then found support on the 10th line, entered night trading, early short profit left the market, more into the empty, Lun zinc stopped falling rebound, tail bank zinc upward weakness, short hit again under, and then in the 10th line to find support, enter night trading, early short profit leave, more into the empty, Lun zinc stop rebound, tail plate zinc upward weakness, short again down, Returning to the decline, it closed down at $1858.5 / tonne, down $48 / tonne, or 2.52%, with turnover falling to 7714 hands and positions falling 173 to 224162 hands. Overnight zinc recorded a big negative line, the top pressure 15 moving average, the bottom support 10-day line. Recently, due to the expectation of domestic tax reform, traders raised water, and some traders hoarded goods, rising water also provided support for the disk, resulting in Shanghai zinc inside and outside weak, but the tax reform is expected to return to fundamentals after landing, still need to pay attention to the downstream enterprise start and order situation, it is expected that the space above the zinc price is limited, and the price is expected to run in the range of 18401890 US dollars / ton. It is expected that the Shanghai zinc 2005 contract price will run in the range of 14700-15200 yuan / ton, and the domestic Shuangyan zinc contract will rise by 50-80 yuan / ton in April.

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