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[brief comment on Zinc in SMM period] the small decline in inventory in three places during the day and the return of zinc in Shanghai at night are still to be considered.
Jun 24,2019 16:48CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM6, April 24th, news:

Within a day, the main 1908 contract of Shanghai zinc opened at 19480 yuan / ton, Shanghai zinc returned to rise after stepping on 19350 yuan / ton at the beginning of the day, and the short position left the market to boost the upward touch of Shanghai zinc to 19520 yuan / ton, and the narrow range concussion was arranged near this position. Then the short position left the field neatly again, the Shanghai zinc operation center of gravity moved up to 19580 yuan / ton line, the overall operation was near the lower rail of Brindao, and then the Shanghai zinc operation center of gravity sank slightly to 19550 yuan / ton. At the end of the day, it rose again to 19580 yuan per ton, closing up 19585 yuan per ton, up 115 yuan per ton, or 0.59 percent, from the previous transaction. Trading volume increased by 24900 hands to 562000 hands, and position volume decreased by 25576 hands to 307000 hands. During the day, Shanghai zinc stopped yin and yang, jumped off all the EMA as a whole, and the MACD index formed a dead fork, indicating that Shanghai zinc had no greater action energy. During the day, domestic inventories in Shanghai, Guangdong and Tianjin recorded a slight decline, giving zinc prices a little momentum to stop falling. However, the market still has expectations for subsequent accumulations, and there is still no big improvement at the consumer end. Zinc price return kinetic energy is still to be considered, night or under pressure Brin Road off the track operation.

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