Source: China Securities Construction Investment Author: China Securities Construction Investment Futures
Research report text
【Viewpoints and Operational Suggestions】
Macro: The long-term U.S. bond interest rate bottomed out, and the 10-year U.S. bond interest rate rose to 3.89%. Global risk assets generally closed down, and under the expectation of warmer weather, energy prices retreated sharply, and the decline in inflation expectations led to a synchronous correction of precious metals. U.S. real estate data continued to show a cyclical decline in real estate, which played a certain role in alleviating rental pressure.
zinc: Overnight, Shanghai Zinc opened higher and moved lower, and the spot market transaction was light. As the end of the year was approaching, most traders had closed accounts and settled accounts, and only a few traders continued to quote. Also basically stopped receiving goods. In the short term, the demand is not strong enough, the market has accumulated expectations, and prices are under pressure.
lead: OvernightShanghai leadWith a sharp retracement, the lead price has risen more recently, but the scattered orders in the recycled refined lead spot market are light, the downstream enterprises are still afraid of heights, and the sentiment of receiving goods is sluggish. The spot transaction is poor, and the degree of discount is close to complete hedging, and empty orders can be placed around 16,000.
In summary, Shanghai zinc fluctuates in a short-term wide range, and Shanghai lead operates in a range. The operating range of the Shanghai Zinc 2302 contract is around 23000-24000 yuan / ton. The operating range of the Shanghai Lead 2302 contract is around 15200-16200 yuan / ton.
【1. Lead and Zinc Data Information】
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