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[brief Review of Zinc in SMM period] long positions reduction will promote weak shock at night.
May 22,2020 17:07CST
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Source:SMM
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SMM5 March 22:

During the day, the main 2007 contract of Shanghai zinc opened at 16335 yuan / ton, and the short selling force at the beginning of the session was strong, and the zinc was tested downward twice, and the second downward probe reached a low of 16165 yuan / ton, and then the surplus plate promoted the upward repair of zinc. Within the backfilling day, all the decline to the daily moving average near the finishing operation, the center of gravity remained stable at about 16370 yuan / ton, the upper and lower amplitude was only about 50 yuan / ton. The final close fell 16395 yuan / ton, down 100 yuan / ton, down 0.61%. Trading volume increased by 22244 lots to 228000 lots, and positions decreased by 8873 lots to 97446 lots. The long shadow line of the zinc harvest is driven by long positions, social inventory is relatively high, the mine story is coming to an end, the fundamentals are weak, and zinc is expected to be weak and volatile at night.

 

 

 

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