Home / Metal News / Zinc / [SMM Zinc Morning News] overnight Shanghai and Lun Zinc all closed down within the day or on the weak side of the day.
[SMM Zinc Morning News] overnight Shanghai and Lun Zinc all closed down within the day or on the weak side of the day.
Oct 23,2019 08:44CST
The content below was translated by Tencent automatically for reference.

SMM, 23 Oct:

Overnight zinc opened at $2468.5 / ton, fluctuated around a narrow range around the daily average at the beginning of the day, and then went down slightly, finding support above $2460 / ton. Entering the European trading hour, the daily average of zinc rose steadily, and the center of gravity moved up to $2480 / ton. the end of the day was affected by the Brexit agreement, but the Brexit timetable was affected by whether the Brexit timetable was affected. Lun Zinc fell sharply, giving up one-day gains and closing down at $2460.5 / ton. It fell $8.50 / tonne, or 0.34%, to 7526 hands, while positions fell 247 hands to 222000 hands. Overnight zinc turned positive into negative, supported by the lower EMA, the KDJ index turned down, the MACD red column also narrowed, indicating that Lun zinc may have a certain downward possibility. However, LME zinc stocks continue to show a downward trend, overseas structure stabilized back, superimposed Sino-US trade frictions once again ease the news, or partially boost market confidence, it is expected that Nailun zinc tends to clean up and run, the operating range is around 2440-2490 US dollars / ton. The LME zinc 0-3 liter discount was $31 a tonne yesterday.

The overnight Shanghai zinc main force 1912 contract high jump opened at 18965 yuan / ton, rapidly pulled up at the beginning of the day, the center of gravity rose to above the Wanjiu pass and touched the high 19065 yuan / ton, but was dragged down by the decline of the outer plate and superimposed on the Wanjiu integer level. Shanghai zinc cliff fell to 18840 yuan / ton and fell 18800 yuan / ton, showing a narrow concussion trend at the end of the day, closing down 18815 yuan / ton, down 115 yuan / ton, down 0.61%, trading volume to 187000 hands, the Shanghai zinc cliff style fell to 18840 yuan / ton and probed lower 18800 yuan / ton, the final closing price fell to 18815 yuan / ton, down 115 yuan / ton, 0.61%, trading volume to 187000 hands. Positions increased by 7180 to 203000. Overnight, Shanghai zinc received three consecutive negative, the overall operation in Brin Road near the middle track, KDJ index neatly downward, MACD red column shortened, overnight increased positions to short, showing that Shanghai zinc temporary storage a certain decline in potential energy, however, the three places recorded a small decline in social inventory and Sino-US trade frictions ease or give Shanghai zinc a little support, it is expected that Shanghai zinc or weak finishing within the day, running around 18700-19200 yuan / ton. Today's domestic double Yan Zinc to 11 contract water 110-130 yuan / ton.


"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