SMM, 31 October:

Within the day, Shanghai lead 1912 contract opened at 16695 yuan / ton, affected by the sharp decline in the outer market, bears took advantage of the opportunity to suppress the lead price to 16545 yuan / ton shock, during the period was as low as 16520 yuan / ton, in the afternoon, due to 16500 yuan / ton integer gate there is strong support, Shanghai lead rose slightly, finally closed at 16600 yuan / ton, down 105 yuan / ton, down 0.63%, the position increased 1152 hands to 60794 hands. Shanghai lead newspaper closed long shadow negative line, did not fall below the concussion platform, coupled with the 5-day moving average trend flat, and from the fundamental point of view, the current price is basically close to the reduction lead smelting cost line, unless the waste battery appears to fall further, otherwise 16500 yuan / ton still has strong support.

(Guo Rong, Shanghai Colored Network Tel: 021-51666879)