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[SMM afternoon Review] Guangdong Zinc: downstream replenishment for bargains increases spot rising water and continues to rise.
May 22,2020 11:49CST
translation
Source:SMM
SMM5 March 22: Guangdong Zinc mainstream traded at 16270Mut 16490 yuan / ton, the quotation concentrated on the Shanghai Zinc 2007 contract up 90muri 110 yuan / ton, the Guangdong market discount of 150 yuan / ton than the previous trading day increased by 20 yuan.
The content below was translated by Tencent automatically for reference.

SMM5 March 22: Guangdong Zinc mainstream traded at 16270Mut 16490 yuan / ton, the quotation concentrated on the Shanghai Zinc 2007 contract up 90muri 110 yuan / ton, the Guangdong market discount of 150 yuan / ton than the previous trading day increased by 20 yuan. In the first trading session, futures prices fluctuated downwards, and downstream market inquiries for bargains increased, coupled with the widening price difference between futures the following month, the holder offered a firm price for the next month's contract, but the supply of high-rise water was generally traded, and the overall market demand was better. Kirin, Huize, Mengzi quoted water for the Shanghai zinc contract for July, rising water 90,100 yuan / ton, Tiefeng rising water 90,100 yuan / ton. In the second trading session, with the rebound in futures prices and more purchases in the first period, there was a strong wait-and-see mood downstream, demand dropped, market trading cooled, some holders offered relatively stable quotations, and individual prices for next month's tickets were on the low side. The overall deal is average. Kirin, Mengzi and Huize quoted for the July contract of zinc in Shanghai to raise water by 90mur100 yuan / ton. The mainstream transactions of Kirin, Mengzi, Huize, Tiefeng and Feilong were 16270mi 16490 yuan / ton.

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