SMM7 News of the 10th of July:
Within days, the main Shanghai zinc 1909 contract opened at 18950 yuan / ton, short position reduction at the beginning of the day, Shanghai zinc upward touch high 19140 yuan / ton, failed to stand firm that is rapid decline, return to the low to find support, back up to break through the daily average, the center of gravity around 19150 yuan / ton narrow range finishing. It closed up 19005 yuan per ton, up 175 yuan per ton, or 0.92%. Trading volume increased by 137000 hands to 373000 hands, while position volume decreased by 7498 hands to 244000 hands. Shanghai zinc red tried to repair within a day, Shanghai zinc 07, 08, 09 contract cumulative reduction of nearly 40,000 hands, capital transfer far month, near far month difference close to zero, the trend of weakening consumption in recent months, superimposed above the 5-day EMA suppression is still strong, the evening or near the 5-day EMA concussion.
