SMM4, March 3:
Intraday Shanghai zinc main force 2006 contract opened at 15370 yuan / ton, at the beginning of the day long short alternately reduce positions, Shanghai zinc market around the daily average line around 15340 yuan / ton narrow range fluctuation, up and down space less than 50 yuan / ton, afternoon market optimism heating up, bulls have increased positions one after another, Shanghai zinc upward to 15390 yuan / ton near a little finishing that is to accelerate repair. At the end of the day, it closed up at 15495 yuan / ton, up 125 yuan / ton, or 0.81%. The trading volume decreased by 30585 hands to 69457 hands, and the position increased by 2444 hands to 80185 hands. Shanghai zinc jumped up the 20-day moving average, and the short moving average turned upwards. Due to the epidemic, shipping has temporarily stagnated and imported ore supplements have been temporarily absent. Considering only China as a whole, there is a risk of shortage at the domestic mining end, and the willingness to sell short in the market has been greatly reduced. Shanghai zinc is expected to remain strong in the short term.
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