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[SMM Zinc Morning News] overnight Zinc closed up in Shanghai, Zinc fell slightly outside, strong inside and weak pattern appeared.
Oct 25,2019 09:01CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, 25 Oct:

Overnight zinc opened at $2471.5 / ton, at the beginning of the day to extend the daily moving average steadily upward, into European trading hours, more into the level, Lun zinc rose rapidly, pulling up the center of gravity to around $2495 / ton, the end of the day continued the concussion trend, closed up at $2497 / ton, up $24 / ton, up 0.97%, trading volume to 8378 hands, position increased by 2629 hands to 226000 hands. Overnight Lunlun zinc received two Lianyang, the lower by the joint support of the moving averages, the upper pressure on Brin Road on the track, indicating that Lun zinc upward sinking energy is limited, LME zinc stocks after falling to a 20-year low recorded a decline of 600tons, or give Lun zinc a little upward momentum, it is expected that Geneva zinc or slightly upward, operating range of 24602510 U. S. dollars / ton. The LME zinc 0-3 liter discount was $36 a tonne yesterday.

The overnight Shanghai zinc main force 1912 contract high jump opened at 18910 yuan / ton, rose at the beginning of the session and touched the high 18990 yuan / ton, but the suppression of the upper Wanjiu pass was stronger, Shanghai zinc pressure fell, during the period of many attempts to break through the above daily average suppression strength, but failed, the overall operation in the 18890 yuan / ton first line, the end of the market down slightly, the final closing price of 18860 yuan / ton, down 20 yuan / ton, down 0.11%, trading volume to 123000 hands, and the overall operation of the first line of 18890 yuan / ton, down slightly downward, closed down 18860 yuan / ton, down 20 yuan / ton, down 0.11%, trading volume to 123000 hands. Positions increased by 508 to 199000. Overnight Shanghai zinc close Yin, below by Brin Road middle rail support, above by Wanjiu pass suppression, KDJ index trend is slow, superimposed into October spot consumption weakening and inventory is still at a low level, in the lack of further macro guidance, Shanghai zinc within the day or partial interval arrangement, operating range of 18600-19100 yuan / ton. Today, domestic Shuangyan Zinc rose 80-110 yuan / ton to the 11 contract.

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