Daily Report 180417 2017-04-18
Zinc and Lead
Overnight Shanghai Zinc and Lead fluctuated weak. Trade volume and holding position decreased. LME yesterday closed. Industry side, Peru Energy and Mining Ministry released that Tuesday filtered Zinc copper output increased 1.9% year-to-year to 109000 tons. Because of Zinc mining output recovery, supply side shortage relieved. As for operation, Shanghai Zinc and Lead price will stable at the bottom area. Short-term price may fluctuate, focus on market emotion.
Maco Economy
Domestic, other than macro-financial data over the expected, the first quarter macroeconomic data also appeared in the blowout. The first quarter GDP growth reached 6.9%year-on-year, more than expected 6.8%, also significantly more than last year 6.7% of the economic growth. Do not underestimate this 0.1%, this is basically reflected in March alone. In the fact, March alone is a single month of economic data blowout.
Monday copper price fluctuated at low position. Industry side, Kazakhstan this March filtered copper output increased 12.7% year-to-year to 36000 tons; the first season filtered copper output increased 1.8% year-to-year to 102000 tons. Overall, the worry about supply suspension is disappearing. Although now is consumption season, downstream doesn’t has obvious market. As for operation suggests fluctuation tendency. Wednesday will release Europe Zone March CPI. 
                                                                                    Dong LV (Investment Certificate NO. TZ008452)