ctrpc| Shanghai zinc futures high volatility: 24,000 - 25,000 yuan/ton operating range forecast, long take profit recommendation

News summary

Shanghai zinc prices are expected to fluctuate within the range of 24,000 - 25,000 yuan/tonctrpc, CITIC Construction Investment Futures advised many investors to take profits in a timely manner.

Newsletter text

Shanghai zinc market analysis: timely profit stop suggestions

Reported that overseas Fed officials tend to maintain their current monetary policy stance, and interest rate cuts require more supportive data. After the implementation of the new policy on the domestic property market, the trading atmosphere has become active, and black products have performed strongly.

In terms of fundamentals, the output of domestic mines is difficult to meet demand, while overseas supply is relatively limited. At the same time, refineries in Yunnan and other regions plan to resume work in late May, and the zinc ingot market supply remains abundant.

From a demand perspective, due to the influence of environmental protection inspections, zinc plating companies in many places have limited production capacity. However, against the background of good expectations in the black demand market, demand shows signs of recovery.

Overall, although the macro environment is warmer, the release of overseas economic data has entered a short window, and the sentiment in the domestic market has increased, the current market highs may face the risk of concentrated liquidation of long positions.

According to the advice of CITIC Construction Investment Futures, investors can consider taking profits in a timely manner in the Shanghai zinc market. It is expected that the fluctuation range of the main contract will be between 24000 and 25000 yuan/ton.