SMM, 28 April:
Overnight, European countries announced a road map for economic unsealing, hoping that the epidemic would not make a comeback. Parts of New York and New Jersey may reopen in May to focus on the recovery of zinc-related consumption; British Prime Minister Johnson has urged the maintenance of the blockade; the Federal Reserve has expanded the scope and duration of municipal liquidity facilities (MLF) to cover smaller cities and counties, and the European Commission may announce further relaxation of banking capital rules on Tuesday. Overnight, Lun Zinc opened at US $1890.5 / ton. After entering the European trading session, Lun Zinc fell back slightly below the daily average line, and then pulled up again by US $1927 / ton, near night trading, suppressed by the 40-day line, empty into how flat, the center of gravity of Lun zinc moved down to US $1910 / ton wide shock, and finally closed up at US $1910 / ton, up 24 US dollars / ton, up 1.27%. Trading volume increased to 6627 hands, position decreased by 1035 hands to 217633 hands. Overnight zinc recorded a small positive line, the upper 40-day line to form resistance, the lower Brin Road middle track to provide support. Overnight lme inventories fell 1700 tonnes, or 1.71 per cent, to 97775 tonnes, while LME inventories continued to fall back and remain high. European and American countries announced economic restart plans, need to pay attention to the future mining recovery and terminal zinc-related consumption, short-term Lun zinc will tend to shock market, Lun zinc prices in the range of 18801930 US dollars / ton range. Domestic, boosted by Yunnan and Gansu storage plans, short-term Shanghai zinc remained strong, short-term attention to the pre-festival downstream enterprises stock strength, Shanghai zinc 2006 contract price is expected to operate in the 15800-16300 yuan / ton range, domestic Shuangyan zinc to the May contract rose 150-170 yuan / ton.
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