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[brief Review of lead in SMM period] low inventory of lead ingots & spot tension prevents short sellers from entering the market
Apr 20,2020 17:24CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, 20 April:

Within the day, the Shanghai lead main force 2006 contract opened at 13630 yuan / ton, low open and low walk, the whole day basically under pressure in the daily average line, and around the 13590 line shock, finally closed at 13595 yuan / ton, down 170 yuan / ton, down 1.24%, the position increased by 2231 hands to 26427 hands. Shanghai lead closed a small negative line, the lower 13500 yuan / ton platform support still exists, from the fundamental point of view, low inventory, superimposed electrolytic lead spot supply is tight, will still hinder the short wanton entry to crack down on lead prices.

In addition, according to the announcement of the previous issue, there has been no night trading in Shanghai since February 3, and the recovery time has yet to be determined.

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

 

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