SMM, 30 April:
Overnight, the United States last week EIA crude oil inventory growth lower than expected, Russia said in May will fully comply with OPEC + production reduction agreement, or support crude oil; The initial value of GDP in the United States in the first quarter was-4.8%, and the sales of existing homes in the US housing market plunged 20% in March. The Federal Reserve promised to use all the tools to support the US economy. Trump met intensively with people from all walks of life to restart the US economy. The US economy slumped in the first quarter, but now overseas are ready to restart the economy, or boost zinc consumption. Redseway's new crown clinical trial has reached the main evaluation indicators; China's two sessions are scheduled for May 22, and the China Riding Association: demand for cars has been relatively good recently, with retail sales up 12 per cent in the fourth week of April from a year earlier. Overnight, Lun Zinc opened at US $1935 / tonne. After a small rise, Lun Zinc rose slightly around the daily average line and entered the European trading session. Under how flat it entered, Lun Zinc fell slightly. Later, it was boosted by the overseas restart economic plan. Lun Zinc gave up its decline. It rose 1949.5 US dollars / ton, and finally closed up 1943.5 US dollars / ton, up 8.50 US dollars / ton, up 0.44%, and the trading volume decreased to 5630 hands. Positions were reduced by 169 to 217208. Overnight zinc recorded a small positive line, running above each daily moving average, or will challenge Brin Road upward. Overnight lme inventories rose 675 tonnes, or 0.70 per cent, to 97525 tonnes, while LME inventories rose slightly to remain high. U. S. economic indicators for the first quarter show that it has fallen into decline, but now overseas push to restart the economic plan and send signals of further easing, superimposed Redsevier is effective and has boosted market sentiment. Lun zinc prices are expected to run within the $1920-1970 / tonne range. Domestic side, May Day reserve demand superimposed section after the highway toll, stimulate short-term downstream storage, the domestic will continue to go to the warehouse, Shanghai zinc 2006 contract price is expected to operate in the range of 16000-16500 yuan / ton, domestic Shuangyan zinc contract to increase the May contract 100-120 yuan / ton.
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