SMM, 8 Oct:
Within days, the Shanghai lead main force 1911 contract short opened at 17100 yuan / ton, Shanghai lead throughout the day basically above the daily average line narrow shock, and above the pressure on the 17250 yuan / ton line, during the high recorded 17280 yuan / ton, near the close, some of the bulls chose to leave the market, Shanghai lead fell back slightly, and finally closed at 17205 yuan / ton, up 260 yuan / ton, up 1.53%, the position increased by 3408 hands to 55998 hands. Shanghai lead closed in the Zhongyang line, driven by the strong trend of lead in the holiday, Shanghai lead stood firm at the Wanqi pass at one stroke, and the short-and medium-term averages were all turning up.However, today's spot market trading was light, and the enthusiasm for high purchasing of downstream storage enterprises was low, and at present, at the end of the peak season for traditional lead consumption, the demand side showed a weakening trend. At the same time, the profit of recycled lead smelting was high, the production enthusiasm was high, and the electrolytic lead smelter did not have a new maintenance plan. Supply side shows a growth trend, so it is expected that Shanghai lead rise space is limited, need to be careful to chase high.
(Guo Rong, Shanghai Colored Network Tel: 021-51666879)
