Newsletter summary
The price of zinc in Shanghai jumped short and opened low.Crashbandicoot99xThe main contract fell to 24345 yuan / ton, a decrease of 2%.Crashbandicoot99x.19%. The position decreased, and the vacancy of the top 20 seats increased or decreased. Inventory decreased significantly, market sentiment improved, but the improvement of terminal orders was limited, the mood of bulls cooled in the short term, and zinc prices adjusted at a high level.
Text of news flash
[Shanghai zinc market experienced low opening] the Shanghai zinc market encountered the phenomenon of short jump and low opening, and the main contract price closed at 24345 yuan / ton, down 545 yuan, or 2%, from the previous day.Crashbandicoot99x.19%, down 845 yuan compared with a high of 25190 yuan / ton. The market performance showed a reduction in volume and reduction of positions, with a total position reduction of 4087 to 233795 positions, with a reduction of positions in the top 20 seats and an increase in short holdings, with 3219 hands in the top 5 net positions. At the same time, the price of lun zinc fell 1.26% to close at US $3018.5 per tonne, and the Shanghai-to-London ratio was raised to 7.97. except for the exchange rate of 1.12, the import loss narrowed to 1510.81 yuan per tonne. Nevertheless, the import window remained deeply closed. [Shanghai stock market inventory significantly reduced] the Shanghai stock market import volume is relatively small, due to the rigid point price driven by downstream market demand, inventory decreased significantly, although Tianjin and Guangdong increased slightly, but the overall social inventory decreased to 212900 tons. [zinc price affected by Federal Reserve policy] the market showed a downward trend today, downstream transactions have picked up, the Shanghai stock market has risen to a low, and the current market discount on 06 contracts is 100 yuan. The minutes of the Federal Reserve meeting are too hawk, so zinc prices are under pressure to adjust back. Although the contradiction between mining and metallurgy still exists, and the improvement of terminal orders is limited, the macro mood is warm, the landing of special bonds is accelerated, and the real estate policy continues to be launched to stimulate.Crashbandicoot99xOn the demand side, the real estate sector is active to improve commodity market sentiment. The basic real estate data from January to April reflect that the property market is still in a deep adjustment, and it still takes time for the policy to be transmitted to the investment and sales side. In the short term, the bulls' mood has cooled somewhat, the high level of zinc in Shanghai has been adjusted, and the 10-day moving average below has formed support. [zinc market trading situation] on May 23, the mainstream transaction prices of Zinc Zinc were 24160 to 24360 yuan per ton, Shuangyan brand prices were 24330 to 24520 yuan per ton, and mainstream transaction prices of Zinc Zinc were 24090 to 24290 yuan per ton. The market quotation for the average price rise in early trading is around 5 to 10 yuan / ton, and there is almost no deal with the average June contract discount of 100 to 110 yuan / ton. In the second trading session, the ordinary domestic quotation is 90 to 100 yuan per ton for the 2406 contract. The high-priced brand Shuangyan to 2406 contract rose around 70 yuan / ton. [zinc Market Trends in Ningbo and Guangdong] the transaction price of zinc in Ningbo, the mainstream brand, is about 24165 to 24375 yuan / ton. The conventional brand in Ningbo offers a discount of 85 yuan / ton to 2406 contracts and 20 yuan / ton to Shanghai spot. In early trading, Yongchang offered a discount of 80 yuan / ton for 2406 contracts, and Huize raised 70 yuan / ton for 2405 contracts; in the second period, traders offered the same price as the previous period. Today, the market fell slightly, there were more spot prices downstream, and even some downstream worried that prices would rise again and began to buy futures, the spot discount narrowed slightly, and the overall spot turnover was better than yesterday. The mainstream trading of zinc zinc in Guangdong market is between 24170 and 24370 yuan / ton, the mainstream brands offer a discount of 165yuan to 185yuan / ton for 2407 contracts, and a price rise of 20 yuan / ton for Shanghai spot prices. In early trading, the price of Kirin, Huize and Mengzi brands rose by about 10 to 20 yuan / ton; in the second period, Kirin, Mengzi and other brands offered a discount of 165 yuan to 185 yuan / ton, and the trading atmosphere in the market was restored. the price-up mood of the holder is gradually increasing, the stock volume of the warehouse is expected to be tight, and the holder is reluctant to quote the price. [Tianjin zinc market] the mainstream turnover of zinc ingots in Tianjin market was 24150 to 24480 yuan / ton, Zijin was traded at 24200 to 24560 yuan / ton, Huludao was quoted at 27610 yuan / ton, zinc common to 2406 contract was quoted at a discount of 80 to 90 yuan / ton, Zijin to 2406 contract was quoted at a discount of 0 to 40 yuan per ton, and the price in Tianjin was 20 yuan higher than that in Shanghai. At the close of the afternoon, the ordinary brand Chihong posted 80 to 90 yuan / ton to 06 contract, Hongye to 06 contract to 80 to 90 yuan / ton, Xinzi to 06 contract without quotation, lark to 06 contract without quotation, Harbin zinc (free warehouse) no quotation, high-price brand Zijin to 06 contract offer 0 to 40 yuan / ton.
