SMM, July 23:
Overnight, Lun lead opened at 1843.5 US dollars / ton. In Asian time, Lun lead fluctuated downward along the daily moving average, entering the European period. Lun lead was generally supported by 1810 US dollars / ton along the 20-day moving average. During this period, it reached a low of 1794.5 US dollars / tonne. Short positions were reduced, and Lun lead finally closed at 1814 US dollars / ton, down 1.49 per cent. Lun lead reported to close the negative line, give up this week's gains, short-term focus on the support strength of the 20-day moving average.
Overnight, Shanghai lead opened at 14945 yuan / ton. At the beginning of trading, Shanghai lead fell rapidly, reaching a low of 14765 yuan / ton, and then basically fluctuated along the 20-day moving average, finally trading at 14830 yuan / ton, down 1.49 percent. Shanghai lead pulls back to near the 20-day moving average, showing a trend of turning short, focusing on the impact of macro-Sino-US trade disputes.
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