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[SMM Zinc Morning News] overnight Hulun Zinc all closed up during the day, Shanghai Zinc may be partial to tidying up and running.
Oct 22,2019 08:40CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, 22 Oct:

Overnight zinc opened at $2449.5 / ton, at the beginning of the day around the daily average narrow shock, then down, the center of gravity down to $2440 / ton line, after a short horizontal finishing, Lun Zinc Xu Li climbed to $2470 / ton around, the end of the day slightly down to near the daily average line, closed up $2469 / ton, up $16 / ton, up 0.65%, trading volume to 5764 hands, position increased 2961 hands to 222000 hands. Overnight Lunlun zinc received three Lianyang, the lower averages rose neatly to give Lun zinc support, the KDJ index also turned upward, showing that Lun zinc temporarily stored a certain upward space, superimposed LME zinc inventory continuously recorded a decline, overseas maintained a stable back structure, Sino-US trade frictions eased slightly, it is expected that Geneva zinc or slightly upward, running in the vicinity of 2430,2480 US dollars / ton. The LME zinc 0-3 liter discount was $31 a tonne yesterday.

Overnight Shanghai zinc main force 1912 contract high jump opened at 18990 yuan / ton, at the beginning of the day around the daily average line shock operation, the concussion interval does not exceed 25 yuan / ton, during the low 18925 yuan / ton, intraday, Shanghai zinc steady decline, the center of gravity sinks to 18920 yuan / ton, the end of the day continues the banner narrow concussion, closed up 18935 yuan / ton, up 10 yuan / ton, up 0.05%, trading volume to 56024 hands, position increased 2634 hands to 198000 hands. Overnight, although Shanghai zinc recorded a small negative line, but the overall operation on each EMA, KDJ three lines converge and slightly upward, superimposed three places of social inventory recorded a small increase, showing that Shanghai zinc temporary storage support, but in September zinc production increased year on year or make Shanghai zinc pressure, it is expected that Shanghai zinc in a multi-party force, or partial collation operation, the operating range is 18700-19200 yuan / ton. Today, domestic Shuangyan Zinc rose 120-140 yuan / ton to the 11 contract.

 

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