[brief Review of lead in SMM period] Shanghai lead stands firm at Wansi pass and market sentiment picks up.

SMM, May 21:

During the day, the main 2007 contract of Shanghai lead opened at 14150 yuan / tonne. At the beginning of trading, Shanghai lead was consolidated around the daily moving average. In the afternoon, long funds re-entered the market to push up the lead price to 14280 yuan / ton, and the back air increased and decreased. Shanghai lead fell near the daily average line, and finally closed at 14170 yuan / ton, up 120 yuan / ton, or 0.85%. The position increased by 4226 hands to 25102 hands. Shanghai lead closed at Wulianyang, strengthened along the upstream channel, and successfully stood at the Wansi pass. From a technical point of view, Shanghai lead is expected to continue to strengthen strongly, superimposed by a pick-up in domestic macro-sentiment, so it is not appropriate to meet high selling short this week.

(Shanghai Nonferrous net Guo Rong Tel: 021 Murong 51666879)