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[brief Review of Zinc in SMM period] the weak fundamentals of consumption in the off-season do not change the macro support at night or continue the high shock.
Jul 2,2020 17:20CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7 March 2: daily Shanghai zinc main 2008 contract opened at 16710 yuan / ton, Shanghai zinc bottomed out at the beginning of the day, hit a low of 16640 yuan / ton, and then bullish positions poured in, zinc quickly pulled up, the center of gravity moved up to around $16790 / ton, and fell slightly at the end of the day, closing up at 16775 yuan / ton, up 15 yuan / ton, or 0.09%. Trading volume increased by 2886 to 134000 tons, and the position decreased by 4218 to 87641 hands. Zinc in the future will maintain a high shock trend, consumption demand will weaken month-on-month in the off-season, and mineral supply will increase seasonally. at the same time, higher prices and profits to repair smelter production will increase month-on-month, and zinc fundamentals will still be weak. however, the macro environment is better, zinc is expected to decline during the limited period of inflation expectations, and zinc is expected to continue to operate in the evening.

 

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