[ccmnBingoshowdownfreeSummary of .cn] PCE data is relatively mild and the probability of interest rate cut in September increases, while Zinc closed up 0% every other week.Bingoshowdownfree.14%BingoshowdownfreeBlack turn galvanizing enterprises lack of confidence, May Day holiday may bring short-term supply and demand mismatch accumulation pressure still exists, zinc may fall today.
[ccmn.cn Zinc Futures Market] overnight zinc high volatility weakened and still slightly floated red, opening at $2848 / ton, high at $2905, low at $2812, and closing at $2853, up $4, or 0.14%.BingoshowdownfreeThe turnover increased by 11372 lots, and the position increased by 244317 lots. In the evening, the main 2406 contract of Shanghai zinc opened high and fluctuated, and it weakened rapidly in intraday trading, closing at 22780 yuan / ton, down 20 yuan, or 0.09%.
Changjiang Zinc Industry Network (pb.ccmn.cn) spot zinc price forecast today: the Fed's preferred inflation indicator, the core PCE price index grew slightly faster than expected in March compared with the same period last year. The market believes that the data is relatively moderate and raises expectations of interest rate cuts in September. After the release of the data, the non-ferrous sector generally fell back and fell at a high level, while the Lunlun zinc shock weakened every other week and edged up 0.14% to $2853. The logical support of macro improvement and supply-side production reduction still exists, but the price of ferrous metals has fallen, coupled with the fact that the real estate industry has always maintained a weak state, lack of confidence in downstream galvanizing enterprises, and production enthusiasm limits the demand for zinc ingots. In addition, the downstream enterprises plan to have different degrees of holiday before the May Day short holiday, and the atmosphere of insufficient spot trading before the festival remains depressed, which may bring about a short-term mismatch between supply and demand after the holiday. Zinc is expected to fall today. (Changjiang Nonferrous Metals net cjys.cn R & D team 0592-5668838)