NewsFlash / Zinc / Shanghai Zinc Slightly Bullish, Eyes on US ADP Employment Data
Shanghai Zinc Slightly Bullish, Eyes on US ADP Employment Data
iconOct 30, 2024 16:54
Source:SMM
【Shanghai Zinc Records a Small Bearish Candle; Focus on US ADP Employment Data for October in the Evening】: The main 2412 contract of Shanghai Zinc opened at 25,080 yuan/ton. In early trading, long positions increased, pushing Shanghai Zinc up to touch a high of 25,240 yuan/ton above the daily average line. Subsequently, profit-taking by bulls caused Shanghai Zinc to drop rapidly below the daily average line before rising slightly again. Following this, short positions were reduced, leading to another decline in Shanghai Zinc, which hit a low of 24,905 yuan/ton. Towards the end of trading, long positions increased as Shanghai Zinc attempted to break through the daily average line and move above it. However, upward momentum was insufficient, and the contract eventually closed up at 25,030 yuan/ton, with a gain of 5 yuan/ton or 0.02%. Trading volume decreased to 19,618 contracts, while open interest increased by 282 contracts to 113,000 contracts.....

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

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

Related news