[minutes of SMM Morning meeting] overnight non-ferrous Shanghai Zinc rose strongly

SMM internal zinc morning meeting summary spot fundamentals Shanghai: in the morning, the holder actively shipped at a high price, the market shipping sentiment was high, the market ordinary zinc brand transaction focused on the average price of SMM net, the market followed the quotation morning to 2008 contract water price 110yuan / ton, after part of the consignor lowered the water price to 100yuan / ton; Entering the second period of time, trading in the market was light, and the holder lowered the price of rising water to 95 yuan / ton for the 2008 contract; zinc prices in the futures market continued to rise, mainly wait-and-see yesterday, the market trading was general, and traders actively shipped at high prices. Ningbo: zinc prices rose again yesterday, and traders in the Ningbo market shipped goods more actively. In the first trading session, Tiefeng Bao was near 100 yuan / ton for August contract, West Mining News was around 80 yuan / ton for August contract, Kirin newspaper was around 130 yuan / ton for August contract, and Huize News was around 180 yuan / ton for August contract, which was slightly lower than the day before yesterday, but the transaction was still more difficult. Yesterday, the supply of imported zinc such as Kazakh zinc and Burmese zinc was cleared, and there was almost no circulation in the market. The market rebounded, the purchase intention of the lower reaches turned worse, the rising water of the market was stronger, and the transaction volume was weaker than that of the day before yesterday. Guangdong: during the first trading session, the price was high and fluctuating, the price center moved upward compared with the day before yesterday, and the lower reaches made more bargain purchases the day before yesterday. Yesterday, it was relatively wait-and-see, but it was rumored that the big traders received the goods, and the market price was strong. Kirin, Mengzi and Huize quoted for the September contract for zinc in Shanghai, which rose 30 RMB40 / ton, and Feilong Shengshui 15 yuan / ton. In the second trading session, after the network price is determined, the market quotation is relatively unified, the holder is not willing to adjust the water, the transaction shows a stalemate, and part of the transaction is dominated. Kirin, Mengzi and Huize quoted a price of 40 yuan / ton for the September contract of Shanghai zinc, 30 yuan / ton for Tiefeng, and 15 yuan / ton for Feilong. Tianjin: yesterday, the decline of zinc in Shanghai widened, and the spot market raised the discount quotation. The price is relatively uniform. The ordinary brand Bai Ling Bao quoted a rise of 140 million yuan / ton for the 08 contract, and Hongyi quoted a rise of 160 yuan / ton for the 08 contract. Chi Hong quoted a rise of 140 million yuan / ton for the 08 contract, and the high-priced brand Zijin quoted a water price of 180 yuan / ton for the August contract. Baiyin Bao quoted a water increase of 180 yuan / ton for the 08 contract. The fourth Ring Road (delivered) quoted 130 yuan / ton of water for the 08 contract and 60 yuan / ton of zinc (including the out of the warehouse) for the 08 contract. Zinc prices shot up and fell back yesterday, traders maintained a rising discount quotation, after yesterday's rebound, shipments were not smooth; downstream, after yesterday's price rebound upstream, the downstream will to receive goods weakened, the return just need to purchase. On the whole, the turnover of yesterday was worse than that of the day before yesterday. Today's prediction of zinc price: overnight, the zinc received the Zhongyang column, the daily K center of gravity moved upward, the length averages below were arranged in multiple positions, the upper tracks of Bollinger Road were pressed, and the KDJ index was about to become a golden fork. Overnight LME inventory decreased by 650t to 121050 t, or 0.53%. Boosted by the agreement reached by the European Union on the recovery plan and the planned launch of a new round of stimulus package in the United States, market expectations for the global economic recovery have increased, boosting zinc prices, but the overseas epidemic has simmered, market optimism has reined in, and the rally has fallen somewhat. Overnight Shanghai zinc recorded barefoot positive column, the lower 5 / 10 line to provide support, the upper Bollinger Road upper rail to form a compression, MACD index positive column expanded. Overnight, Shanghai Zinc opened high, overseas good news frequently, superimposed domestic consumption optimistic expectation support, Shanghai Zinc performance is strong. Pay close attention to the development of Sino-US trade in the short term. Today's forecast: the price of lun zinc is expected to run in the range of 2210 murals, 2260 US dollars per ton. It is expected that the contract price of Shanghai Zinc 2009 will run in the range of 17900 won 18400 yuan per ton, and domestic zinc is expected to rise by 300 yuan per ton.