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Huatai futures: zinc and aluminum prices stabilized recovery

inputtime: 2018-07-13 09:02
Zinc: on March 14, the price of zinc in the period fell down in shock. Domestic spot prices rose 140 yuan per ton to 22400 yuan per ton. Spot aspect, according to the SMM, Shanghai market near delivery, volume is given priority to with long single business, more downstream for the dips last week have some inventory, stabilised and zinc prices rise, market as a whole to clinch a deal without improvement; Some of guangdong's refineries are still under repair. Other refineries are shipping normally. Tianjin holds the goods dealer normal quotation shipment, the downstream maintains the purchase as required, the transaction is stable.
According to SMM, on March 13, 2017, the central and western major zinc smelting enterprises held a high-level seminar in xi 'an. All parties at the meeting expressed that the zinc concentrate processing fees at home and abroad would be increased without cleaning up the theoretical production and maintenance. The meeting put forward the plea of "establishing a harmonious mechanism for the negotiation of imported raw materials", which should meet the current $30 / dry ton low level import zinc concentrate processing fee.
, according to bloomberg TrevaliMining from glencore to buy several zinc assets, the amount of total about $400 million, with a 80% stake in namibia RoshPinah mines, burkina faso Perkoa ore 90% equity and namibia Gergarub project a 39% stake.
Strategic advice: overall refined zinc supply remains constrained, smelting plant overhaul production is expected to continue to increase, inventory, gauge downstream in late march will gradually recover, tianjin market for Shanghai premium also indicate the requirements or have risen slightly, in view of the previous interval to fell to a low profit, up space than down space, can try the dips.
Risk: smelter production continues to increase and downstream demand recovers less than expected.
Aluminum: on March 14, aluminum prices weakened, prices rose at night, and the average spot price on the Yangtze river remained unchanged at 13,570 yuan/ton. Spot aspect, according to the SMM in months, the period now spreads extension probability is bigger, the dealer looking before delivery, aluminium diving, downstream enterprises looking mood, purchase intention back slightly, clinch a deal the overall yesterday fell back.
Inventory growth slowed, but LME inventories continued to fall sharply. LME aluminum stocks fell 21,425 tonnes to 2033,000 tonnes on March 14.
According to the SMM, Alcoa association for imports of aluminum foil since China launched anti-dumping and anti-subsidy investigation, according to the SMM, more than the current aluminum foil enterprise have said will react to the future of the U.S. department of commerce investigation, and the anti-dumping investigation and arbitration for a long time, measure cycle will exceed one year. The us anti-dumping action against Chinese aluminum foil products will continue to be of concern to SMM. The ultimate value of the current Shanghai separation position and future forecast, SMM measure in 2017 China's aluminium processing product exports will continue to adhere to a more stable growth, consistent with our survey results, and the theory of the United States imports in China aluminium consumption proportion of small, less effect theory.
Strategic advice: rising production and inventory, the recent price pressure is big, but lower capital support and benefit from the supply side of innovation far month are expected to be strong, so prices fell into sound asset to cash capital range, can be single thinking step by step planning.
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