[brief comment on Zinc in SMM] bulls are not confident enough that action on zinc in Shanghai remains to be considered.

SMM6, April 4, news:

Within a day, the main 1907 contract of Shanghai zinc opened at 20245 yuan / ton, and at the beginning of the day, Shanghai zinc opened low and went up to 20305 yuan / ton, and then the short position entered the market substantially, dragging down Shanghai zinc to lower 20080 yuan / ton, and then the support strength of the lower track of Brindao appeared. Shanghai zinc operation center of gravity concussion slowly moved up to 20230 yuan / ton near the small finishing, backfill within the day decline. Trading volume increased by 45832 hands to 440000 hands and position decreased by 5126 hands to 266000 hands. During the day, the zinc position in Shanghai fell for three consecutive days, the attached director went down the shadow line to explore the lower track of Bolin Road, the KDJ index turned down, and the short position decreased and Shanghai zinc rose slightly, indicating that the bulls did not have more confidence, and the action on Shanghai Zinc was or was still relatively limited. The double suppression of 5-and 10-day EMA was observed at night.