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[brief Review of Zinc in SMM period] increasing warehousing and uplink Shanghai Zinc Breakthrough 40-day moving average suppression
Apr 14,2020 16:58CST
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Source:SMM
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SMM4, 14 March:

Intraday Shanghai zinc main force 2006 contract opened at 15675 yuan / ton, zinc optimism continued to heat up at the initial stage of the market, the upward position once touched higher 15980 yuan / ton, then part of the capital closed at 15900 yuan / ton, up 165 yuan / ton, up 1.05%, trading volume increased 34206 hands to 106000 hands, position volume increased 5025 hands to 93833 hands. Shanghai zinc upward broke through the 40-day moving average to explore the intensity of suppression at the Wanliu pass, the impact of the epidemic on the supply side stimulated the market from time to time, coupled with the fact that the domestic continuous going to the warehouse did not exceed the expected deterioration of consumption, and the overall performance of fundamentals tended to be more favorable. Short-term zinc may be expected to break through the suppression of the Wanliu pass.

 

 

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