Home / Metal News / Zinc / [SMM Zinc Morning News] overnight Shanghai Lun Zinc ups and downs are expected to be divided within the next day.
[SMM Zinc Morning News] overnight Shanghai Lun Zinc ups and downs are expected to be divided within the next day.
Oct 18,2019 08:44CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, 18 October:

Overnight Zinc opened at $2417.5 / ton. At the beginning of the day, the daily moving average rose slightly. Under the suppression of the upper five-day moving average, Lun Zinc fell under pressure. After finding support at the integer level of US $2400 / ton, Lun Zinc returned to the rally. During the period, after a small decline, it climbed again and rose to US $2450 / ton. At the end of the day, it closed up at US $2434 / ton, up US $16.50 / ton, up 0.68%, trading volume to 6961 hands. Positions were reduced by 1045 to 218000. Overnight zinc turned to yin and yang, the lower averages turned upward, combined to give the support of zinc, indicating that the short-term existence of zinc has a certain action energy. Superimposed LME zinc stocks continued to decline, overseas back structure expanded, but also supported zinc prices. It is expected that Nailun zinc may have an upward trend, running at about 2400-2450 US dollars / ton. The LME zinc 0-3 liter discount is $31.50 per tonne.

Overnight Shanghai zinc main force 1912 contract high jump opened at 18800 yuan / ton, Shanghai zinc steadily rose at the beginning of the day, the center of gravity moved up to 18855 yuan / ton, then slightly down, the center of gravity returned to 18800 yuan / ton again, but under the pressure of the convergence of multiple averages above, the center of gravity sinked again to about 18775 yuan / ton, the tail climbed later, the final closing price rose to 18825 yuan / ton, up 90 yuan / ton, an increase of 0.48%, but under the suppression of the convergence of multiple averages above, the center of gravity sank to about 18775 yuan / ton, and the final closing price rose to 18825 yuan / ton, up 90 yuan / ton, or 0.48%. Trading volume to 87484 hands, position reduced by 1730 hands to 204000 hands. Overnight, although Shanghai zinc turned negative to yang, but the operating platform fell back to Brin Road middle and lower tracks, MACD red column shortened significantly, KDJ also showed a downward trend, showing that Shanghai zinc has a certain downward trend, overnight reduction is mainly long, indicating that the long confidence is not enough to choose to leave the field and watch. It is expected that the zinc pressure in Shanghai will run near 18500-19000 yuan / ton in the next day. Today, domestic Shuangyan Zinc rose 100-130 yuan / ton to the 11 contract.

.

"Click to sign up for the 2019 China Zinc oxide Industry chain Trading Summit"

Scan QR code and apply to join SMM metal exchange group, please indicate company + name + main business

 

Zinc Morning Review
Morning News

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn