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[brief Review of SMM Zinc] Zinc concussion rose until trading sentiment in Wanjiu market was high.
Jul 31,2020 18:10CST
The content below was translated by Tencent automatically for reference.

SMM7 March 31:

Geneva zinc opened at US $2296.5 / ton, the performance of Lun zinc in the Asian market was mediocre, the integer mark above US $2300 / ton was strongly suppressed, and the finishing operation was in the range of US $2290-US $2300 / ton. as risk appetite heats up in the afternoon, Lun Zinc strongly breaks through the integer barrier, pulls up further after a temporary pause around US $2315 / ton, and slightly falls back after reaching a high of US $2234 / ton. As of 15PUR 33, Lun Zinc closed up US $2323.5 / ton, up US $30.50 / ton, or 1.33%. Lun Zinc center of gravity further upward, the bottom short moving average long arrangement continues, the technical form performance is better, the marginal improvement of fundamental consumption is still expected to support, Lun Zinc is expected to be easy to rise and difficult to fall in the short term.

During the day, the main 2009 contract of Shanghai zinc opened at 18870 yuan / ton, the long-short game in the Asian market showed a slight stalemate, zinc fluctuated in a narrow range along the daily moving average, with a range of about 70 yuan / ton, and risk assets rose rapidly in the afternoon, zinc positions increased upwards. the volume and price rose strongly through the 19000 yuan / ton barrier, closing at 19080 yuan / ton, up 335 yuan / ton, or 1.79%. The trading volume increased to 370443 hands, and the position increased by 9469 to 121000 lots. Zinc received a small positive pillar, the center of gravity further moved upward to tamp the previous increase, social inventory continued to decline, short-term domestic zinc ingot production is still supported by a breakthrough, and the consumption expectation of taking infrastructure as ballast stone is more optimistic. Zinc in the evening or to stabilize the Wanjiu pass as the goal of strong operation.


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