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[brief Review of Zinc in SMM] Zinc negative in Shanghai may usher in downward Adjustment
May 12,2020 15:44CST
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Source:SMM
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SMM5, March 12:

Intraday Shanghai zinc main force 2007 contract opened at 16890 yuan / ton, intraday empty into how flat, Shanghai zinc shock downward, the center of gravity down to 16840 yuan / ton near narrow finishing, the upper and lower space is only about 30 yuan / ton, near the close, some of the bulls left the market, Shanghai zinc down 16800 yuan / ton. At the end of the day, it closed down at 16815 yuan / ton, down 15 yuan / ton, or 0.09%. The trading volume decreased by 3038 hands to 93034 hands, and the position increased by 3473 hands to 126000 hands. Shanghai zinc received a long shadow small negative column, two consecutive days to increase warehousing downward, the current supply side story has not faded, but the consumer follow-up is weak, coupled with the current social inventory is still at a high level of pressure, zinc is expected to usher in an adjustment, pay attention to the 5-day line support.

 

 

 

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