SMM4, 9 May:
Within the day, the Shanghai zinc main force 2006 contract opened at 15700 yuan / ton, the market short selling force at the beginning of the day is relatively strong, Shanghai zinc position downward extended daily moving average line gradually down to 15600 yuan / ton around collation and operation, near the close, part of the long capital tried to enter the market, then was pressed down by the short, recorded a V fall, closed down 15555 yuan / ton, down 95 yuan / ton, 0.61%, trading volume increased 18546 to 83375 hands, position increased 1817 to 84871 hands. Shanghai zinc has increased positions and declined for two days in a row, highlighting the continued weakness of funds on consumption under the influence of the epidemic. The current supply side shortage and weak consumption are both sawing, and zinc is expected to fall into interval fluctuations.
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