[SMM Zinc Morning News] overnight Shanghai, London and Zinc pay close attention to Sino-US Trade consultations within days

SMM, 10 October:

Overnight zinc opened at $2295 / ton, at the beginning of the day around the daily average horizontal finishing, the center of gravity held steady at $2295 / ton line, but the 10-day moving average suppression strength is strong, Lun zinc pressure, fell sharply and probed down $2268 / ton. In European trading, Lun Zinc rebounded and recovered its daily decline, climbing above the daily moving average and rising $2317.5 a tonne. Lun Zinc closed up $2314 / tonne, up $19 / tonne, or 0.83%, to 5085 hands, while positions were reduced by 1509 hands to 224000 hands. Overnight Lun zinc received two Lianyang, the overall operation between Brin Road middle and lower tracks, LME zinc stocks recorded a decline for many days to give Lun zinc some support, but the intensification of market concerns about trade disputes make Lun zinc under pressure. It is expected that the finishing trend of zinc in Geneva will continue, with an operating range of US $2260-2310 per ton. The LME zinc 0-3 liter discount was $20 a tonne yesterday.

Overnight, the Shanghai zinc main force 1911 contract opened at 18705 yuan / ton, at the beginning of the day, the daily average line went down slightly, then the center of gravity sank slightly to 18660 yuan / ton, and then the center of gravity sank slightly to 18660 yuan / ton. in intraday trading, driven by the upward direction of the outer plate, Shanghai Zinc Xu Li, climbed rapidly, broke the adhesion suppression strength of the above EMA, the tail concussion went up and touched the higher 18900 yuan / ton, Shanghai zinc closed up 18870 yuan / ton, up 165 yuan / ton, up 0.88%, trading volume to 103000 hands. Trading volume decreased by 3450 hands to 155000 hands. Overnight, Shanghai zinc received three Lianyang, pressurized Brin Road middle rail operation, overnight position reduction to short mainly boost zinc prices, but the bulls showed hesitation to enter the market is not strong, Shanghai zinc may be difficult to get further action energy, in this stalemate situation, Shanghai zinc is still dominated by interval shock, pay attention to the upcoming Sino-US trade negotiations, Shanghai zinc is expected to run at 18500-19000 yuan / ton. It is expected that today's domestic Shuangyan zinc to 11 contract water 130-150 yuan / ton.

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