[brief Review of Zinc in SMM period] Zinc stop overturning red during intra-day delivery

SMM5 March 15:

Within the day, the Shanghai zinc main force 2007 contract was opened at 16475 yuan / ton, and some of the long positions at the beginning of the day were pushed forward. After the Shanghai zinc upper test was 16515 yuan / ton, the pressure fell back, and the test again ended in failure. Then the center of gravity moved down to 16430 yuan / ton. In the afternoon, the long capital poured in again. Shanghai zinc rebounded to the opening price for consolidation and operation, and finally closed up at 16465 yuan / ton, up 35 yuan / ton, or 0.21%, compared with the daily close. Trading volume increased by 10617 hands to 128000 hands, position decreased by 785 hands to 115000 hands. Shanghai zinc stop negative turn red, zinc price decline led to a significant improvement in downstream buying willingness, the decline in social inventory is obvious, the current supply-side story has not yet ended as a bottom force, it is expected that the short-term 40-day moving average support is effective.

Within the day, the Shanghai zinc 2005 contract completed delivery, opened at 16535 yuan / ton, basically showed a first-line arrangement, closed down 16530 yuan / ton, down 5 yuan / ton, down 0.03%, the trading volume increased by 990 hands to 2845 hands, the position decreased by 395 hands to 2925 hands, the delivery volume was 14625 tons, and the settlement price was 16490 yuan / ton.

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