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[brief comment on Zinc in SMM period] the transfer of funds within days may still be weak in Shanghai at night.
Jul 11,2019 16:46CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

On the 11th of SMM7, news:

The main 1909 contract of Shanghai zinc opened at 19140 yuan / ton at the beginning of the day. After touching 19235 yuan / ton at the beginning of the day, the short position increased significantly and dragged down to 19030 yuan / ton line, then long short saw the short position down to 19030 yuan / ton line, and then long short saw short position reduction upward. Shanghai zinc rose slightly to 19070 yuan / ton, closing up 19060 yuan / ton, up 15 yuan / ton from the previous transaction, an increase of 0.08%, and the trading volume decreased 2698 hands to 371000 hands. Position increased by 18000 to 262000. During the day, Shanghai zinc runs near the 5-day moving average, under the overnight macro-mood digestion, Shanghai zinc returns to its own fundamental operation, within the day the capital moves the warehouse far month, 09, 10 contracts accumulatively increases the position more than 22000 hands, the near weak far strong pattern further presents, mainly due to the inventory accumulation expectation, the consumer side still reflects the fatigue, the night Shanghai zinc or still supports the weak operation at Wanjiu pass, observe the support strength of Bolingdao under the track at night. The main reason is that under the expectation of inventory accumulation, the consumer side is still in a weak state, and the night Shanghai zinc may still be supported by the weak operation of Wanjiu pass.

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