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[brief comment on Zinc in SMM period] the current market continues to divide and squeeze into positions.
Jun 13,2019 16:40CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM6, 13 / 13 / PRNewswire-FirstCall-Asianet /-

At the beginning of the day, the main 1908 contract of Shanghai zinc opened at 20340 yuan / ton, and at the beginning of the day, Shanghai zinc twice went up to detect 20400 yuan / ton integer position suppression, but both failed to stand firm. The short position greatly dragged down Shanghai zinc down to 20160 yuan / ton, and more into the air in the afternoon. Shanghai zinc recovered slightly to 20220 yuan / ton first-line finishing operation. After a little consolidation, the short position left the market to boost Shanghai zinc to rise again. Most of the declines in the backfilling day closed up to 20285 yuan / ton. Compared with the previous transaction, it rose 40 yuan per ton, or 0.2 percent, with trading volume up 298.14 million hands to 265000 hands and positions up 7206 hands to 264000 hands. Shanghai zinc received a cross star in the day, pierced the 20-day EMA above, 06 and 07, 08 contracts continued in 650RMB / t and 1000 RMB / t, indicating that the position squeeze market is still continuing, the near strong and far weak pattern continues to strengthen, the spot market discount continues to expand, the futures market and the spot market continue to differentiate, long action can be temporarily considered, night Shanghai zinc or around the 20th EMA operation.

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