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[SMM lead Morning News] Lun lead continues to weaken and Shanghai lead is entangled on the 5th line.
May 28,2020 09:00CST
The content below was translated by Tencent automatically for reference.

SMM, May 28:

Overnight, Lun lead opened at 1674.5 US dollars / ton. In the Asian session, lead and zinc fluctuated downwards together, entering the European period, Lun lead continued to weaken, and then phased upward revision. However, after 5 days of moving average suppression, Lun lead fell again to 1626 US dollars / ton, and the outer disk colored collective rose, followed by Lun lead, which finally closed at 1642 US dollars / ton, down 32 US dollars / ton, or 1.91 per cent. It seems that the support platform formed by the 10-and 20-day moving average is about to fail, and it is possible for Geneva lead to continue to be revised down.

Overnight, Shanghai lead opened at 14260 US dollars / ton. At the beginning of the session, Shanghai lead moved along the daily average line, and then the non-ferrous metals helped to weaken. The Shanghai lead operating platform moved down to 14210 yuan / ton. Near the close, driven by the strengthening of the outer disk, Shanghai lead rose back to 14275 yuan / ton, down 95 yuan / ton, or 0.66%. The position decreased by 35 to 28692 hands. Shanghai lead newspaper closed the lower shadow of the Xiaoyang line, the long and short sides entangled at the 5-day moving average, and the trend of the 5-day moving average slowed down, paying attention to the support of the 5-day moving average within the day.

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