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[brief Review of SMM Zinc] Wu Lianyin was recorded in the kinetic energy of zinc return rise in Shanghai within a limited day.
May 26,2020 17:01CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM5 March 26:

During the day, the main 2007 contract of Shanghai zinc opened at 16375 yuan / ton. at the beginning of the day, Shanghai zinc opened low and went high. After a short period of consolidation around 16370 yuan / ton, the daily average showed that Shanghai zinc quickly fell 16220 yuan / ton and rebounded slightly after finding support. around 16250 yuan / ton line narrow shock, into the afternoon trading session, Shanghai zinc steadily move up, touch 16340 yuan / ton, and then empty into more flat, tail pressure daily moving back down. The final closing price fell to 16285 yuan / ton, down 65 yuan / ton, or 0.4%. The trading volume decreased to 128951 lots, and the position decreased to 90531 lots. During the day, five consecutive shades of zinc were recorded in Shanghai, the KDJ index was about to become a dead cross, and the upper 5 / 20-day moving average was suppressed, indicating that the kinetic energy of zinc return in Shanghai was insufficient. In the case of no obvious improvement in downstream enterprise orders, the pressure on the supply side of domestic refineries still exists, and the fundamental support of Shanghai zinc is temporarily weak. Pay attention to the suppression strength of the 5-day moving average at night.

 

 

 

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