SMM, 22 Oct:
Within days, the Shanghai lead 1911 contract opened at 17030 yuan / ton. At the beginning of the day, the Shanghai lead high level quickly dived downward, to a certain extent, short lead gradually changed from the initial differences to the present more consistent, Shanghai lead in the short selling pressure, low to 16870 yuan / ton, after Shanghai lead stabilized, near the close, some speculative funds sneaked into the market at the end of the day, gambling high in the evening, Shanghai lead reported at 16945 yuan / ton, down 70 yuan / ton, down 0.41%. Positions were reduced by 872 to 48842. The trend of Shanghai lead deviates from overseas, the internal and external price comparison is further enlarged, it is expected that the external strength and internal weakness will continue, and there is the possibility of further downward revision in the short term, so we still maintain the view of selling short.
(Guo Rong, Shanghai Colored Network Tel: 021-51666879)