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[brief Review of lead in SMM period] it is difficult to break through the continuous return of lead in Shanghai
May 7,2020 17:20CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, May 7:

Within the day, the Shanghai lead main force 2006 contract opened at 13820 yuan / ton, the whole day basically near the daily moving average shock, during the period once touched 13945 yuan / ton, but the upper 60-day moving average suppression is strong, Shanghai lead stopped here, finally closed at 13885 yuan / ton, the position increased 168 hands to 24414 hands, an increase of 150 yuan / ton, an increase of 1.09%. Shanghai lead closed at the Xiao Yang line, continued to rise, but still did not break through the operating range, the driving force to support the return of lead prices after the festival, is that the supply side increment has not yet been reflected, at the same time, the operating rate of storage enterprises at the consumer end has not been reduced, however, the post-festival spot market trading is light, the market bearish sentiment is strong, there is a strong suppression above the superposition, and it is less likely to break through the gate at night.

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

 

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