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Metal high open Shanghai zinc rose more than 3% Shanghai copper straight up
Apr 7,2020 09:29CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM4 July 7: boosted by the domestic decline, U. S. stocks rose and other aspects of good news, Shanghai stock market metal opened higher today, Shanghai zinc rose more than 3%. Affected by the news of the reduction of production at the end of the mine, Shanghai copper rose in a straight line after the opening of the market, up about 3% at one point.

"[SMM Aluminium Morning News] Shanghai Aluminium had a narrow shock on Friday and Lun Aluminum broke a new low on Monday.

Monday's aluminum opened at $1480 a tonne. Asian session, Lun aluminum horizontal finishing; European to North American trading, the performance of the first suppression and then rise, closing at $1475 / ton, up 2%. Intra-day shocks are expected to run at $14501500 per tonne.

"[SMM Zinc Morning News] overseas good luck drives Lun Zinc to collect Yang

Boosted by the good news of crude oil, superimposed overseas epidemic spread of good, Lun Zinc slightly upward, but the epidemic has not yet seen a clear inflection point, weak global demand will limit its upward, it is expected that the space above the zinc price is limited, and the price is expected to operate in the range of $1860,1910 / ton. It is expected that the contract price of Shanghai zinc 2006 will run in the range of 15100-15600 yuan / ton, and the domestic Shuangyan zinc will increase the contract by 40-70 yuan / ton in April.

"[SMM lead Morning News] overseas mood Relief closed up 1.2 per cent overnight

With active overseas trading, Lun lead bottomed out and recovered its decline, finally reporting an increase of 1.2% to $1680 / ton, with positions rising 754 hands to 116000 hands. Lun lead low positive line, to the top of the pressure on each moving average, pay attention to the trend after the opening of the market.

"[7 April SMM lead Internal Morning meeting record] the Shanghai lead Social Bank continues to decline and the supply of recycled lead increases slowly.

"[SMM Tin Morning News] overnight, the center of gravity of Lunxi moves up.

After the opening of the European market, the market continued to rise at the beginning of the day, and then maintained a shock around the daily average of $14250 / ton, and rose again at the end of the day. Finally, it closed at $14350 / ton, showing a small positive line. The top part of the entity is under pressure on the 5-day moving average, and the bottom is supported by the 10-day moving average. Resistance above Lunxi is expected to be near the 20-day moving average of $14600 per tonne.

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