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Original title: Ruida Futures: Shanghai Zinc Index Decline and Increase or Consolidation
Internal and External Trends: LME zinc fluctuated slightly today, at 15:17 Beijing time, it was reported at US $ 2618 / ton, a daily decline of 0.36%. Shanghai Zinc’s 2012 main contract first decreased and then increased. Daily trading was at 20185-19870 yuan / ton, and closed at 20,020 yuan / ton in late trading, down 0.57% from the previous trading day’s closing price. The trading volume was 143,000 lots, an increase of 18329 per day. But no; 85,000 hand positions, a daily decrease of 7,686 hands. The base shrank to 130 yuan / ton; the Shanghai zinc price spread from December to January narrowed to 45 yuan / ton.
Market Focus: (1) The US dollar index in Asia fluctuated slightly and is currently trading at 93.077, up 0.09%. (2) China’s October M2 is up 10.5% yoy, which is expected to be 10.8% and the previous value was 10.9%. (2) China Automobile Association: Auto sales in China in October were 2.573 million, up 12.5% year-on-year
Spot market: Spot 0 # zinc SMM quotations on Nov 12 were 20100-20200 yuan / ton, and the average price fell 230 yuan / ton from the previous trading day. Changjiang Nonferrous Metals reported that demand for imported goods rose slightly, downstream bargaining in the demand market, buying enthusiasm rebounded, the trading atmosphere was active, and the overall transaction improved from yesterday.
In terms of inventory: Shanghai zinc warehouse revenue recorded 14,311 tons, with a daily increase of 0 tons. As of November 11, the LME zinc warehouse recorded 221,625 tons, a daily reduction of 200 tons. At the same time, as of the week of November 6, Shanghai’s zinc stocks on the Shanghai Futures Exchange reported 60,874 tons, up 486 tons weekly.
Top positions: The top 20 Shanghai Zinc 2012 contracts have 51,621 long positions, 62,999 short positions and 11,378 net short positions, with a daily reduction of 1930 hands. Short positions are greater than long positions.
Market Research and Judgment: On November 12, Shanghai Zinc’s main contract for 2012 first fell and then increased, and the bulls eased their positions. During the period, China announced social financial data that did not live up to expectations, but data on auto production and sales continued to improve. The good news about vaccines has already been digested in the past and the fluctuation of the US dollar index has partially suppressed the market. In terms of spot goods, the demand for imported goods increased slightly, the downstream market entered the market to make inquiries, the shopping enthusiasm rebounded, the trading atmosphere was active, and the overall transaction was better than yesterday. Technically, the Shanghai zinc daily KDJ indicators have crossed downwards, but the green column of the hourly MACD has shrunk. In terms of operation, it is recommended that Shanghai’s leading zinc strength can sell high and buy low between 20150-19850 yuan / ton and stop loss 150 yuan / ton each.
Ruida Futures Metals Chen Yilan
Qualification certificate number: F3010136
Z0012698
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