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[brief comment on Zinc in the SMM period] the continuous monthly deviation of the squeeze market has widened again.
Jun 12,2019 16:23CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM6 12 / 12 / PRNewswire-FirstCall-Asianet /-

Within days, the main 1908 contract of Shanghai zinc opened at 20400 yuan / ton, at the beginning of the day, Shanghai zinc opened high and low, and then stepped back to 20330 yuan / ton line at the beginning of the day, and then slightly returned to 20360 yuan / ton. However, it failed to hold on to the pressure drop again, and the downward detection 20 days moving average support strength, close to the European trading period, long short saw short position increase position, Shanghai zinc concussion downward overall operation in 20220 yuan / ton line, operating range not more than 40 yuan / ton, Trading volume fell 459.04 million hands to 245000 hands, while positions increased 11884 hands to 256000 hands. Within days, Shanghai zinc recorded a long Yin column, the overall station on the 5th EMA operation, within 06 and 07 contract monthly difference expanded again, from yesterday 570RMB / ton expanded to 660RMB / ton, 06 and 08 contract monthly difference expanded to 1030 yuan / ton, squeeze the position market to continue, near strong far weak pattern to further strengthen, supply recovery pressure, zinc basic support is still weak, night attention to the 5th EMA support strength, is expected to Shanghai zinc or run near the middle track of Brin Road.

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