[SMM Zinc Morning] Lunzin probe low backlift back to step 3400 integer bit

SMM, 17 January1 / PRNewswire-FirstCall-Asianet /:

Overnight Lunzin opened at US $3427.5 / ton, the withdrawal of funds during the Asian session was obvious, and the basic metals fell in general. in early trading, Lunzin still stuck to the integer position of US $3400 / ton and struggled, failed to stand firm below the US $3400 / ton integer level, and accelerated the leakage situation. At one point it was down $3353 a tonne. However, LME zinc stocks fell slightly, fundamentals support is still strong, short leave, long funds bullish bets, Lun zinc concussion upward, step back on the $3400 / ton integer bit, backfill most of the decline in the day. The final close fell $3407, or $26, or 0.76 per cent. The operation of Lunzin is in the shape of a large "V", and a long shadow negative column has been recorded. at present, there is still no upward trend in zinc inventory, and the strong expectation of supply shortage still constitutes a strong support, and Lunzin has a strong ability to resist falling. It is expected to operate within the day or around $3,385 per ton.

Overnight Shanghai zinc main 1803 contract opened lower at 26000 yuan / ton, Shanghai zinc continued the decline in daily trading situation at the beginning of the day to make up for the decline of 25940 yuan / ton, and then followed the outer plate backfill decline, level into more, Shanghai zinc center of gravity climbed to 26130 yuan / ton around collation and operation. At the end of the day, it rose 85 yuan, or 0.33 percent, to 26150 yuan per tonne, with trading volume down 200000 to 161000 and positions down 2710 to 246000. Shanghai zinc anti-falling ability is not as good as Lun zinc, has fallen 5, 10 lines, and weak domestic consumption is still a strong pressure to curb the rise in Shanghai zinc, in the short term, Shanghai zinc is not optimistic about a sharp rebound, Shanghai zinc is expected to run in the vicinity of 25900 to 26,350 yuan / ton. (SMM Li Ling QQ:2880505676 Tel: 021 51666853)