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[brief comment on Zinc in SMM period] the action of giving back the increase of zinc in Shanghai within one day remains to be considered.
Jul 3,2019 16:55CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7, March 3, news:

At the beginning of the day, the main 1908 contract of Shanghai zinc opened at 19670 yuan / ton, and at the beginning of the day, Shanghai zinc briefly revolved around the first line of 19650 yuan / ton, and then the short position left the market neatly, boosting the upward touch of Shanghai zinc to 19775 yuan / ton. However, the suppression of the 10-day moving average showed that the pressure of Shanghai zinc fell back to 19670 yuan / ton. The operating range was not more than 20 yuan / ton, giving back most of the gains in the day. it closed at 19650 yuan / ton, 35 yuan / ton higher than the previous transaction. It rose 0.18%, with trading volume down 65608 to 304000 and positions down 10448 to 227000. During the day, Shanghai zinc stopped falling and turned red, the upper 5-and 10-day EMA double adhesion suppression is strong, the subsequent inventory accumulation expectations have not yet declined, superimposed the weak consumer demand situation, Shanghai zinc action can still be observed, pay attention to the upper 5-day EMA suppression at night.

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