SMM, 8 April:
Overnight, more than 1.4 million cases of new crown pneumonia have been confirmed worldwide; production cuts of 10 million barrels per day and no production cuts are under consideration by OPEC; the US Treasury is seeking an additional $250 billion; applications for deferred mortgage repayments in the United States have surged by nearly 2000%; the European Central Bank has adopted unprecedented collateral measures; the State Department: extending some of the tax breaks that have expired until the end of 2023; The Ministry of Industry and Information Technology further relaxes the entry threshold for new energy vehicle manufacturers and products; Overnight, Lun Zinc opened at US $1905 / ton. Lun Zinc was quickly boosted by overseas advantages, and its center of gravity moved up to US $1930 / ton. The center of gravity moved up to US $1930 / ton. Entering the European trading session, non-ferrous metals showed a strong performance. Under empty conditions, Lun Zinc touched US $1953 / ton higher. In night trading, Lun Zinc was inactive, short of the overall force, Lun Zinc quickly fell back to break the daily average, and finally closed up at US $1923 / ton, up US $25 / ton. Up 1.32%, trading volume increased to 8687 hands, position decreased by 479 hands to 224995 hands. Overnight Zinc recorded a long upper line of small yang line, close to Brin Road in the middle of the track, below to support the 5 / 10 line. In the near future, due to the large increase in zinc prices, the reduction of superimposed processing fees, the shortage of raw materials in domestic smelters will be improved, on the demand side, domestic demand will gradually recover, and the starting situation of downstream enterprises will improve one after another. However, the impact of the decline in overseas orders will be gradually transmitted to China, limiting the rebound space for zinc prices, and the price is expected to run within the US $1880-1930 / ton range. It is expected that the contract price of Shanghai zinc 2006 will run in the range of 15200-15700 yuan / ton, and the domestic Shuangyan zinc will increase the contract by 40-70 yuan / ton in April.
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