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[brief comment on Zinc in SMM period] short position reduction in Shanghai within days, Shanghai Zinc jumps onto the Lower Rail of Brin Road
Jun 25,2019 16:51CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM6, 25th, news:

The main 1908 contract of Shanghai zinc opened at 19810 yuan / ton at the beginning of the day, and ran in a narrow range of 19800 yuan / ton at the beginning of the day, followed by a small departure from the market. Shanghai zinc was frustrated and went down to find support for the daily average. After finding support on the 19770 yuan / ton line, it went up 19950 yuan / ton, finishing slightly at the end of the day, closing up 19935 yuan / ton, up 350 yuan / ton from the previous transaction, up 1.79%, and the trading volume decreased 107000 hands to 454000 hands. Reduce your position by 25972 to 281000. Shanghai zinc recorded two Lianyang in the day, jumped on the lower track of Brin Road as a whole, and reduced its position by more than 25000 hands within the day, most of which were short positions, and the market sentiment brought about by the interest rate cut was slightly alleviated. Shanghai zinc stopped and repaired more obviously. however, the short position reduction upward, bulls still do not have sufficient confidence for Shanghai zinc to provide strong action energy. At night or still running in the middle and lower rail range of Brin Road.

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