Home / Metal News / Zinc / [brief Review of Zinc in SMM period] Zinc fell most of the week during the strong repair week of bullish positions.
[brief Review of Zinc in SMM period] Zinc fell most of the week during the strong repair week of bullish positions.
May 29,2020 17:18CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

On the 29th of the month of SMM5:

During the day, the main 2007 contract of Shanghai zinc opened at 16230 yuan / ton. At the beginning of the session, Shanghai zinc opened high and went low. After exploring a low of 16165 yuan / ton, the V word reversed to recover the decline. Some bulls tried to enter the market and promoted the zinc center of gravity to move up to about 16270 yuan / ton. In the afternoon, long positions poured in, and Shanghai zinc accelerated to hit a high of 16470 yuan / ton. With some funds to stop earnings and left the market, Shanghai zinc plate tail was slightly revised down, closing up at 16400 yuan / ton, up 275 yuan / ton. The trading volume increased by 1.71%, while the trading volume decreased by 15605 to 147000, while the position increased by 733 to 85600. Within the day, Shanghai zinc received a big positive pillar, strongly repairing most of the decline in the week. Fundamentals there are smelters to join the ranks of maintenance, the mine side of the time mismatch has not been solved, at the same time, social inventory reduction constitutes a good, night attention to whether to break through the 5-day moving average.

 

 

 

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