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[brief Review of SMM lead] the fundamentals are difficult to find support for the decline of lead high level in Shanghai
May 12,2020 16:53CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, 12 May:

Within days, the Shanghai lead main force 2006 contract opened at 14280 yuan / ton, at the beginning of the day, Shanghai lead to the bottom of the daily average line, and around 14260 yuan / ton shock, after the increase and decrease, Shanghai lead shock platform moved down to 14100 yuan / ton below the daily average line, finally closed at 14150 yuan / ton, the position increased 1623 hands to 26083 hands, up 290 yuan / ton, an increase of 2.09%. Shanghai lead newspaper lengthened the upper limit of the upper film Zhongyang line, broke through the upper limit of the shock interval, and the 5-day moving average turned upwards, however, the domestic fundamentals are weak, it is difficult to find the favorable factors that support the sustained strength of lead prices, at the same time, taking into account the near delivery day, so the possibility of a sharp fall in Shanghai lead in the near future is relatively low, short funds should be given priority to wait and see.

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

 

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