[brief comment on Zinc in SMM period] the domestic market will be closed during the Dragon Boat Festival period when zinc in Shanghai turns red in one day.

Published: Jun 6, 2019 16:18

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SMM6 6 June news:

The main 1908 contract of Shanghai zinc was opened at 19945 yuan / ton at the beginning of the day, and the short position was reduced at the beginning of the day. The upward touch of Shanghai zinc was 20030 yuan / ton, and then the bulls left the Shanghai zinc market to find support around the daily average of 19930 yuan / ton, and Shanghai zinc rose strongly. Break 20000 yuan / ton integer level suppression, touch high 20295 yuan / ton. It closed up 20250 yuan per ton, up 375 yuan per ton, down 1.89 percent, with trading volume up 156000 hands to 328000 hands and positions down 15036 hands to 252000 hands. During the day, Shanghai zinc stopped yin and yang, broke the 5-day and 10-day EMA, and the KDJ index turned upward obviously, reflecting the strong action energy of Shanghai zinc. Mainly due to the domestic Shanghai, Guangdong and Tianjin social inventory recorded a small decline, giving zinc prices a certain degree of support. Within the day 06 and 07 contract monthly difference expanded to 610 yuan / ton, 06 and 08 contract monthly difference expanded to 1050 yuan / ton, the squeeze market continued, the near strong far weak pattern reflects the further strengthening, tonight domestic no night market.

With the advent of the Dragon Boat Festival holiday, the arrangements for the last suspension are as follows:

No trading will be held on the evening of Thursday, June 6, 2019.

The market is closed from Friday, June 7, 2019 to Sunday, June 9, 2019.

The market has been open as usual since Monday, June 10, 2019.

A brief review of zinc a daily review

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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