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[brief Review of Zinc in SMM] bulls' entry to boost the steady rise of Zinc Price in Shanghai within the next few days
Oct 15,2019 18:03CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM10, 15 March:

 

Intraday Shanghai zinc main force 1912 contract opened at 18955 yuan / ton, at the beginning of the day, Shanghai zinc as a whole around the daily average narrow amplitude shock, then into the empty, Shanghai zinc steadily upward, break the above Wanjiu gate pressure level, lift the center of gravity to 19040 US dollars / ton line, in the afternoon by the outer plate uplink, Shanghai zinc also climbed slightly, at the end of the day in 19060 yuan / ton first-line horizontal concussion, closed up 19070 yuan / ton, up 10 yuan / ton from the previous trading, up 0.05%. Trading volume decreased by 40, 000 hands to 159000 hands, position increased by 13700 hands to 193000 hands. Within days, Shanghai zinc turned negative and received yang, standing above the moving average, and the increase of positions in the day was dominated by long positions, indicating that the confidence of long heads increased slightly under the recovery of macro emotion, and there was a certain degree of action energy in Shanghai and zinc in the short term. Within days, the total outflow of 10 and 11 contracts exceeded 40 million, the main 12 contract funds poured into more than 100 million, the near weak and far strong pattern strengthened, in the short term also give Shanghai zinc certain support, pay attention to the upper 19120 yuan pressure level at night. In addition, the intra-day Shanghai zinc 1910 contract completed delivery, opened at 18900 yuan / ton, the beginning of the market basically around the daily average horizontal finishing, then, driven steadily by the main contract, Shanghai zinc 1910 contract strengthened, the center of gravity rose to 18990 yuan / ton, finally closed at 19000 yuan / ton, settlement price 18925 yuan / ton, delivery volume of 11125 tons, position reduced 2580 to 5570 hands.

 

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