[brief comment on Zinc in SMM period] consolidation pattern is still valid if it is difficult to break the bottom 24500 support for the time being.

SMM, March 19: the main 1805 contract of Shanghai Zinc opened at 24920 yuan / ton in Japan, short positions continued to increase pressure at the beginning of the plate, Shanghai Zinc quickly fell down 24840 yuan / ton, and then the multi-empty saw war began again, Shanghai Zinc around 24900 yuan / ton wide concussion. At one point, it hit 25015 yuan per ton. In the afternoon, the amplitude gradually narrowed to 50 yuan / ton near the daily average line consolidation, near the end of the disk, accompanied by short positions again increased Shanghai zinc recorded an intraday low of 24760 yuan / ton after a little repair. The final close fell to 24805 yuan / ton, down 105 yuan / ton, or 0.42%, with turnover up 40348 hands to 468000 hands and position up 4312 hands to 241000 hands. Shanghai zinc upward pressure is obvious, 25000 yuan / ton integer position shows a strong suppression, but the current consumption expectations still exist, short-term consolidation pattern is difficult to break, night may be weak operation, below 24500 yuan / ton support is still effective. (SMM Li Ling QQ:2880505676 Tel: 021 51666853)

Tip: SMM built the [colored question and answer] platform has been launched, you have any industry questions can be asked on this platform, there will be professional analysts for you to make a detailed interpretation! "Click to view details