SMM, 11 Oct:
Overnight, Lunlead opened at $2134.5 / tonne. In the Asian session, the market was light. During the period, the market was basically trading around $2140. During the period, the low level dropped to $2134.5 / tonne. Entering the European session, Lunlead accelerated upward with non-ferrous metals. At one point, it reached $2168.5 / tonne. Later, it came under pressure from the 5-day moving average. Finally, $2154 / tonne, up $12.50 / tonne, up 0.58%. Positions were reduced by 1672 to 132000. Lun lead in the high shock consolidation, technical support continues to strengthen, focusing on the progress of Sino-US trade negotiations.
Overnight, Shanghai lead 1911 contract opened at 16945 yuan / ton, Shanghai lead quickly fell to 16890 yuan / ton, followed by Lun lead shock rose, but on the whole showed a pattern of external strength and internal weakness, Shanghai lead high to 16995 yuan / ton, the final report at 16965 yuan / ton, position reduced 904 hands to 50066 hands. Shanghai lead along the five-day line slowly upward, but the overall trend is weak, the market buying momentum is not strong, if the lead correction, Shanghai lead has the possibility of breaking the downside.
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