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[brief Review of Zinc in SMM] the room for zinc decline is limited in the unlikely period of fundamental change.
Apr 23,2020 16:08CST
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Source:SMM
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SMM4, 23 March:

Within the day, the Shanghai zinc main force 2006 contract opened at 15805 yuan / ton, the optimism of the market receded at the beginning of the day, the bulls left the market one after another, and the Shanghai zinc shock fell 15745 yuan / ton and made an upward correction. However, the daily average line was blocked by a narrow range of fluctuations around 15820 yuan / ton. At the end of the day, it closed down at 15795 yuan / ton, down 65 yuan / ton, or 0.41%. The trading volume was reduced by 38877 hands to 92140 hands, and the position was reduced by 871 hands to 88651 hands. Shanghai zinc received a ten-star, short moving average tends to stick, zinc fundamentals change little, short-term ore supply tightening and zinc ingot social inventory continued to decline resonance, zinc prices may be difficult to fall sharply.

 

 

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