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[brief Review of SMM lead] supply and demand in the spot Market pay attention to the inflection Point of lead Ingot inventory
Apr 21,2020 16:17CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, 21 April:

Within days, the Shanghai lead main force 2006 contract opened at 13605 yuan / ton, long and short differences between the two sides, resulting in Shanghai lead wide concussion throughout the day, the upper pressure 13685 yuan / ton platform, the bottom of the 13525 yuan / ton first-line support, finally closed at 13620 yuan / ton, up 15 yuan / ton, up 0.11%, the position was reduced by 1451 to 24976 hands. Shanghai lead closed at the Xiaoyang line, the 5, 10-day moving average formed a dead fork, but the lower 13500 yuan / ton platform support still exists, the spot market is in a weak situation of supply and demand, pay attention to this week's lead ingot social inventory changes, or will guide the trend of 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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