[SMM lead Morning News] the downside of Shanghai lead shock closed down 0.8% overnight.

Published: May 14, 2020 08:41

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SMM May 14th:

Overnight, Lun lead opened at US $1625.5 / ton. During the Asian session, Lun lead fluctuated in a narrow range around 1625 yuan, entered the European period, and dived downwards, reaching a low of US $1595 / ton, approaching a previous low, and finally closed at US $1597 / tonne, down 2.05%. Lun lead trend is weak, mainly affected by the current overseas epidemic may have a second outbreak of concern, coupled with their own poor fundamentals, short-term attention to the early low support.

Overnight, shanghai lead opened at 13760 yuan / ton, Asia period, shanghai lead around 13730 yuan front line, after the lead weakened, shanghai lead followed down, low to 13595 yuan / ton, around a slight decline, finally reported at 13700 yuan / ton, down 0.8%. Shanghai lead gives up its gains, the upsurge of funds seems to be over, and pay attention to the support of lead price platform in the short term.

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