[SMM lead Morning News] Macro-environmental preference for Shanghai lead has stabilized and rebounded.

Published: Jul 21, 2020 09:21 (GMT+8)

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SMM, July 21:

Overnight, Lun lead opened at US $1815.5 / tonne. During the Asian session, Lun lead concussion fell, reaching a low of US $1804 / tonne. After entering the European session, Lun lead rebounded and followed Nonferrous lead to strength, finally trading at US $1829 and / t, up 0.85 per cent. Lun lead 20 moving average near the support, short-term is expected to be mainly shock consolidation, follow-up attention to the overall market macro environment changes.

Overnight, Shanghai lead opened at 14870 yuan / ton. Shanghai lead rose slightly at the beginning of the day, and then basically fluctuated near the daily moving average. During this period, the high reached 14960 yuan / ton, and finally reported at 14890 yuan / ton, an increase of 0.64%. Shanghai lead stopped falling and stabilized, with the arrival of peak season expectations, lead prices short power is not strong, short-term consolidation is expected to continue to strengthen.

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