SMM, 21 Oct:
On Friday, Lun Zinc jumped down and opened at $2422 / tonne, while Lunlun Zinc was under pressure below the daily average line and fluctuated at $2425 / tonne, entering European trading hours, just as China's real estate and infrastructure data were better than expected. Lun Zinc was boosted by a sharp rise, breaking through the suppression of the upper 5-day moving average and touching up $2474.5 / tonne at one stroke, tail down, giving up part of the increase, and finally closing up at $2453 / tonne. Up $19 / tonne, or 0.78%, trading volume to 7104 hands, position increased by 834 hands to 219000 hands. Last Friday, Lun Zinc received two Lianyang, the lower averages turn up to give Lun Zinc certain action energy, superimposed LME zinc inventory continuously recorded a decline, overseas to maintain a stable back structure, indicating that overseas spot supply may be relatively tight, but also support zinc prices. Zinc in Geneva is expected to operate near US $2420-2470 per ton. The LME zinc 0-3 liter discount was $33 a tonne on Friday.
On Friday, the Shanghai zinc main force 1912 contract was boosted by the external market rally, the high jump opened at 19005 yuan / ton, and then rose 19080 yuan / ton at the beginning of the session, followed by a concussion and consolidation at the 19030 yuan / ton level. However, the suppression at the Wanjiu pass was relatively strong. During the session, Shanghai zinc was under pressure and fell steadily, closing up 18960 yuan / ton, up 0.53% from the closing price on the 5th of last week. The trading volume reached 133000 hands, and the position decreased by 2958 hands to 197000 hands. Although Shanghai zinc turned negative on Friday, but the high jump runs above the EMA, the KDJ index turns upward, indicating that Shanghai zinc may have a certain degree of upward action in the short term, and social inventories in the three places recorded a decline. China's real estate and infrastructure data have boosted market confidence. Shanghai zinc is expected to rise slightly within the day, running near 18700-19200 yuan / ton. Today's domestic double Yan Zinc to 11 contract water 110-130 yuan / ton.
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