SMM, July 02 / PRNewswire-Asianet
Overnight, US EIA crude oil stocks fell sharply last week; OPEC crude oil production fell to its lowest level since 1991 in June; and Saudi Arabia threatened the two countries to make production reduction commitments with a price war. The decline in crude oil stocks supports the trend of oil prices. The Federal Reserve: supports forward-looking guidance based on economic results; the number of small non-farmers in the United States increased by 2.369 million in June; the US House of Representatives passed a $1.5 trillion infrastructure bill; and the epidemic situation in Texas and California is serious. Overseas economic data are generally robust or boost market sentiment, but the development of overseas epidemics can not be ignored. In June, Caixin's manufacturing PMI was the highest so far this year. The domestic economy continues to repair, and both sides of supply and demand are improving synchronously.
Overnight, Lun Zinc opened at US $2038 / ton. At the beginning of the day, non-ferrous metal rose generally. Len Zinc quickly rose to US $2050 / t. After slightly finishing, Lun Zinc felt as high as US $2054.5 / ton. However, the bulls were afraid of heights, and Lun Zinc slipped rapidly, giving up all the gains. After slightly finishing at US $2037 / ton, entering the European trading moment, Lun Zinc dived down to a narrow range of fluctuations around US $2025 / ton, and bears poured in to suppress the zinc price. The center of gravity of Lun Zinc further moved down to US $2020 / ton consolidation, during which the low hit US $2017 / ton and entered the night market. Boosted by the US Infrastructure Act, the low level of Lunzn Zinc rose rapidly, finishing at a high of US $2040 / ton, driven by a long capital increase at the end of the day. Lunzinc moved up again to a narrow range of US $2045 / ton, and finally closed up at US $2046.5 / ton, up US $9.50 / ton, or 0.47%, and trading volume increased to 8758 lots. The position decreased by 2201 hands to 19.1 hands. Overnight Lun Zinc received a long shadow line attached to the small pubic column, broke through the support of the 20th line, and tested the support strength of the middle rail of Bollinger Road, and the negative column of MACD was enlarged. Overnight LME inventory fell 25 tons to 122550 tons, or 0.02%, still high. Overseas macro-favorable increase in infrastructure investment pre-pull Lun Zinc terminal consumption, market optimism heats up, support Lun Zinc upward, but the development of the epidemic limits the process of economic recovery and suppresses the upward space of Lun Zinc. Pay attention to the development of the epidemic in the short term. The price of lun zinc is expected to operate in the 2060 US dollars / ton area in 2010.
Overnight, the main 2008 contract of Shanghai Zinc opened at 16645 yuan / ton, driven by the outer disk at the beginning of the day, Shanghai Zinc concussion uplink at the high level of 16715 yuan / ton briefly arranged under pressure down, explored low 16585 yuan / ton, short low left, Shanghai zinc upward correction, recovered part of the decline, the center of gravity moved up to 16670 yuan / ton first line consolidation, at the end of the day, Shanghai zinc continued the upward trend, and the center of gravity further moved up to 16710 yuan / ton fluctuation. After hitting an intraday high of 16730 yuan / ton, a slight pullback finally closed down at 16705 yuan / ton, down 55 yuan / ton, or 0.33%. Trading volume increased to 71026 lots, while position decreased by 3336 lots to 88523 lots. Overnight, Shanghai zinc received a small positive pillar, the upper 10 lines were pressed, the support strength of the 20-day line was tested below, and the opening of KDJ was expanded downwards. Macroscopically favorable to boost zinc prices, however, under the background of weakening consumption, smelters are mainly increasing production and resuming production, the pressure of supply and demand is greater, and the movement of Shanghai zinc is limited. It is expected that the contract price of 2008 of Shanghai zinc will operate in the range of 16400 Mel 16900 yuan / ton. It is expected that the contract price of domestic Shuangyan zinc will rise by 90Rue 110 yuan / ton in July.
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