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[brief comment on Zinc in SMM period] the main short position reduction in Shanghai recorded Sanlianyang in Shanghai during the day.
Jun 11,2019 16:26CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

On the 11th of SMM6, news:

The main 1908 contract of Shanghai zinc opened at 20175 yuan / ton at the beginning of the day. At the beginning of the day, the main contract of Shanghai zinc opened at 20175 yuan / ton. At the beginning of the day, after a little finishing operation, Shanghai zinc quickly explored 20140 yuan / ton, followed by short position reduction, vibration lifting, and upward detection of the 20-day EMA. However, it failed to stand firm and fell back to 20230 yuan / ton again. In the afternoon, short positions were reduced again. Shanghai zinc twice received a boost and reached 20510 yuan / ton. At the end of the day, it fell back slightly, closing up to 20445 yuan / ton. Compared with the previous transaction, it rose 190 yuan per ton, or 0.94 percent, with trading volume up 133000 hands to 281000 hands and positions down 7552 hands to 245000 hands. During the day, Shanghai zinc recorded three Lianyang, short on the line piercing Lindao middle rail suppression, MACD indicators show obvious gold fork, showing that Shanghai zinc action can be stronger, but at present the vast majority of refineries resume normal production, supply-side accumulation warehouse is expected to make zinc prices up there is still greater pressure, short positions in the next day, Shanghai zinc continuous action can still be considered, night or near the middle rail of Brin Road.

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