[brief Review of lead in SMM period] High consolidation of lead in Shanghai for smooth delivery of the contract in that month

SMM7 March 15:

During the day, the main 2008 contract of Shanghai lead opened at 15410 yuan / tonne. As Shanghai lead failed to reach 15440 yuan / ton twice at night, bulls reduced their positions one after another in early trading. Shanghai lead fell below the daily average line and adjusted horizontally along the line of 15375 yuan / ton. Near noon, Shanghai lead fell all the way to the intraday low of 15310 yuan / ton. In the afternoon, the basic metal generally rose, and Shanghai lead rebounded, but it was blocked by the intraday moving average. Several attempts to break through were fruitless. It finally closed at 15345 yuan / ton, down 20 yuan / ton, or 0.13%. The position decreased by 286 to 22006, and the trading volume decreased by 16146 to 18358. Affected by the adjustment of the Shanghai and Shenzhen stock markets, the overall trend of Shanghai lead today is mainly shock, with trading volume reduced by nearly half, and the KDJ index also shows convergence, but there is still some distance below the k line from the 5-day moving average, and the overall center of gravity has not yet moved significantly downward. it is expected that Shanghai lead will be supported by the 5-day moving average in the short term. It should be noted that today's Yuanyue 09 contract and the main 08 contract price difference has been reduced to 60 yuan / ton, the main funds further backward. In addition, the 07 contract closed at 15455 yuan / ton today, with a settlement price of 15605 yuan / ton, 6820 positions and 34100 tons of delivery. today, the warehouse receipt inventory increased by 5395 tons to 38493 tons, and the 07 contract completed smooth delivery.