[brief Review of lead in SMM period] Shanghai lead will increase and the main funds will be transferred to the distant month.

SMM7 March 14:

During the day, the main 2008 contract of Shanghai lead opened at 15475 yuan / ton. In early trading, basic metals generally fell, and Shanghai lead then fell through the daily average line, supported by 15355 yuan / ton, rebounded slightly, and adjusted horizontally around 15415 yuan / ton. In the afternoon, Shanghai lead first suppressed and then rose, following the V-shaped reversal of the Shanghai Composite Index and the non-ferrous metals plate, reaching an intraday low of 15295 yuan / ton, ending at 15365 yuan / ton, down 95 yuan / ton, or 0.61%. The position decreased by 2776 to 22292, and the trading volume increased by 24 to 34504. Shanghai lead recorded a long shadow line, KDJ indicators showed signs of convergence, coupled with the Shanghai and Shenzhen stock markets began to enter the technical adjustment stage, Shanghai lead is expected to have a small correction in the short term. It should also be noted that there are only 6870 positions left in the 07 contract, and today's warehouse receipt inventory increased by 7142 tons to 33098 tons, leaving a shortfall of only about 1000 tons. In that month, the contract has shown signs of smooth delivery. The price difference between Yuanyue 09 contract and main 08 contract has been reduced to 75 yuan / ton, indicating that the main funds have been gradually transferred to Yuanyue contract.