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[brief Review of SMM Zinc] disputes between China and the United States resume the downward pressure on Shanghai Zinc.
Jul 24,2020 16:40CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7 March 24: during the day, the main 2009 contract of Shanghai zinc opened at 18255 yuan / ton, many heads left the market at the beginning of the session, and the disk quickly slipped to 18250 yuan / ton. In the afternoon, the dispute between China and the United States resumed, and the non-ferrous general fell. Zinc diving accelerated the downward trend after a brief finishing of 17850 yuan / ton, and bottomed out after exploring the intraday low of 17740 yuan / ton. Recorded a V word reversal, the center of gravity was consolidated at 17910 yuan / ton, and finally closed up at 17910 yuan / ton, up 60 yuan / ton, or 0.34%. The trading volume increased to 233853 lots, and the position increased to 94872 lots. Zinc overcast attached to the long shadow line, upward test Bollinger Road on the track, below jump away from each long moving average support. Due to the escalation of the contradiction between China and the United States due to the consulate closure incident, the market risk aversion mood heats up, and the macro-negative zinc price is expected to have a strong performance in the evening. Pay attention to the macro news guidance.

 

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