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[SMM lead Morning News] Lun lead remains in the uplink channel and the downward pace of lead in Shanghai may slow down in Japan.
Oct 24,2019 09:05CST
translation
The content below was translated by Tencent automatically for reference.

SMM, 24 October:

Overnight, lun lead opened at US $2199.5 / ton. In Asia, Lun lead basically ran along the daily moving average. Entering the European period, the LME 0-3 contract rose to a sustained back structure, which continued to inspire bulls' confidence in admission. The shock of Lun lead strengthened to US $2225 / ton, but the upper pressure was greater. Lun lead dropped slightly, and finally reported US $2217 / ton, up 17.50 US dollars / ton, up 0.8%. Positions increased by 1890 to 129000. Lunlead closed the Zhongyang line and continued to run in the uplink. The 5-and 10-day moving average is still the limited support platform below, and Geneva lead may continue to try to break through the US $2225 / ton platform. Overnight, Shanghai lead 1912 contract opened at 16765 yuan / ton, at the beginning of the day, Shanghai lead inertia fell to 16625 yuan / ton first-line shock, and the low recorded 16600 yuan / ton, and then due to the outside plate lead stronger, driving the Shanghai lead center of gravity upward, but the domestic weak fundamental market, so that Shanghai lead is difficult to continue to strengthen, there is a slight correction, and finally closed at 16710 yuan / ton, up 45 yuan / ton, up 0.27%, the position increased by 1106 to 59220 hands. Shanghai lead temporarily closed long shadow Xiao Yang line, short-and medium-term moving average showed a downward trend, and 5, 10 days moving average formed a dead fork, but Brin Road down the track 16584 yuan / ton there is a strong support, it is expected that the downward pace of Shanghai lead may slow down in the next day.

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