SMM, May 25:
During the day, the main 2007 contract of Shanghai lead opened at 14180 yuan / ton, running above the daily moving average and rose strongly. During this period, it once reached 14430 yuan / ton, was effectively supported by the 10-day moving average, and increased its position. It finally closed at 14350 yuan / ton, up 240 yuan / ton, or 1.70%. The position increased by 3610 hands to 29475 hands. Shanghai lead closed barefoot Dayang line, each moving average basically maintained the upward trend, due to the spring bank holiday, Lun lead did not open today, in the absence of outer disk drag, long funds continue to push up lead prices, there is the possibility of continuing to rise at night, but from a fundamental point of view, there is no new Ledo conditions to support lead prices to continue to rise, and be cautious to chase more at night.
(Shanghai Nonferrous net Liu Lin Tel: 021 Murray 51666771)