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[SMM lead Morning News] Shanghai lead Breakthrough platform closed up 3.03% overnight
May 12,2020 08:38CST
translation
The content below was translated by Tencent automatically for reference.

SMM, May 5 (Xinhua)

Overnight, Lunlead opened at $1645 / tonne, while in Asia, Lunlead ran on the front line of $1650. In Europe, Lunlead accelerated its rise and fell back under pressure after reaching $1675. Near the end of the day, Lunlead accelerated its uplink, led by Shanghai lead, and finally reported $1675 / tonne, up 1.76 per cent. Lun lead technically stabilized, and then tested the 40-day moving average pressure.

Overnight, Shanghai lead opened in 13895 yuan / ton, accelerated entry of funds at the beginning of the session, Shanghai lead quickly rose to a high of 14305 yuan / ton, the overall trend is strong, and finally reported at 14280 yuan / ton, up 3.03%. Overnight, the Shanghai lead 2006 contract increased the position by more than 4000 hands. At present, the domestic lead ingot inventory is low, and there is a risk of soft capital pressure in the short term. Technically, the short-term strength probability of breaking through the platform is higher.

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