SMM7, March 1:
During the day, the main 2008 contract of Shanghai lead opened at 14840 yuan / ton, and the bulls entered strongly at the beginning of the session, trying to break through the previous pressure line. Shanghai lead twice pulled up to a high of 14915 yuan / ton. In the afternoon, due to insufficient support from consumption expectations, the bulls left the market, and Shanghai lead quickly fell through the daily moving average and shook down, closing at 14785 yuan / ton, up 15 yuan / ton, or 0.10%, and its position increased by 789 to 25451. Trading volume increased by 3891 to 26022 lots. Shanghai lead negative line, obvious capital washing posture, domestic macroeconomic recovery is higher than expected, investors are enthusiastic about investment, while Shanghai lead fundamentals are not very good at present, and there is great upward pressure. Shanghai lead is expected to fluctuate between 14785 and 14840 yuan / ton at night.
(Shanghai Nonferrous net Tang Beiling Tel: 021 Murray 51666819)