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[brief comment on Zinc in SMM period] it is difficult to see signs of stopping the decline of zinc in Shanghai by adding more than 30, 000 short positions in the day.
Jun 21,2019 16:39CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM6, 21 / 21 / PRNewswire-FirstCall-Asianet /-

Within a day, the main 1908 contract of Shanghai zinc opened at 19710 yuan / ton, and at the beginning of the day, Shanghai zinc fluctuated at 19650 yuan / ton. Near noon, short positions entered the market neatly and pressed zinc prices. Shanghai zinc quickly and unilaterally went down until 19410 yuan / ton, and the short end of the market left the market slightly, giving Shanghai zinc a certain amount of momentum to stop the decline. After a little finishing, it closed down 19450 yuan / ton, down 385yuan / ton from the previous transaction, down 1.94%. Trading volume decreased by 104000 hands to 537000 hands, and position volume increased by 35088 hands to 333000 hands. During the day, Shanghai zinc closed a big Yin column, unilateral downward refresh month low, the overall operation around Brin Road under the track, KDJ indicators show downward, and no signs of falling. There was a surge of 35000 short positions in the day, indicating a strong bearish mood in the market, with a sharp increase in short positions for two days in a row. During the superimposed day, the overall social inventory in Shanghai, Guangdong, and Tianjin recorded a small increase, and the subsequent market still had expectations for the inventory increase. Shanghai zinc fundamental support weakened, stop falling kinetic energy still to be considered. Expected to run at night or near the lower rail of Brin Road.

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