Home / Metal News / Zinc / [brief Review of Zinc in SMM period] the drop in the outer disk dragged down the evening or tested the support of Wanliu pass.
[brief Review of Zinc in SMM period] the drop in the outer disk dragged down the evening or tested the support of Wanliu pass.
May 28,2020 17:39CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM5 March 28:

During the day, the main 2007 contract of Shanghai zinc opened at 16125 yuan / ton. after a slight adjustment at the beginning of the session, Shanghai zinc recorded a V reversal and a low of 16095 yuan / ton. with the short sellers leaving Shanghai zinc shock upward, the center of gravity moved up to 16220 yuan / ton narrow range concussion, the upper and lower space was less than 50 yuan / ton, the upper 5-day moving average was difficult to break through, the bulls stopped the surplus and left the market, and the zinc operation was weak, and finally closed down at 16180 yuan / ton, down 95 yuan / ton, down 0.58%. Trading volume decreased by 3380 lots to 163000 lots, and positions decreased by 5142 lots to 84867 lots. Within a day, Shanghai zinc stops overturning red, and the five-day moving average under pressure is insufficient. Fundamentals, the contradiction in mine supply is expected to ease, while social inventory is slowly removed, zinc is lack of positive guidance, and the outer disk is dragged down at the same time. Zinc in the evening may test the support of Wanliu pass again.

 

 

 

Scan the QR code and apply to join the SMM metal exchange group. Please indicate the company + name + main business.

 

Zinc brief review
daily review

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn