SMM7 March 22:

During the day, the 2009 contract for Shanghai lead opened at 15085 yuan / ton. In early trading, basic metals rose, and Shanghai lead rose, falling below the daily moving average after reaching an intraday high of 15215 yuan / ton. in the afternoon, supported by 15015 yuan / ton, Shanghai lead fluctuated horizontally along the intraday moving average. in late trading, affected by the general decline in basic metals, it fell to a daily low of 14950 yuan / ton, supported by a slight recovery in the 5-day moving average, closing at 14980 yuan / ton, down 95 yuan / ton, down 0.63%, and its position increased by 1759 to 21725 hands. Trading volume increased by 7651 lots to 20571 lots. Shanghai lead concussion today, reported to close on the film, k-line entity is still trapped in the 5-day moving average and 10-day moving average, bulls in the high profit reduction positions, risk aversion mood is obvious. In terms of fundamentals, Shanghai lead is supported by the cost of recycled lead, and downstream procurement demand has picked up somewhat, but after all, the peak consumption season has not arrived, and the upward driving force of lead prices is insufficient, so it is necessary to pay attention to whether Shanghai lead can stand on the 10-day moving average at night. It is expected that Shanghai lead will mainly take the 10-day and 5-day moving average as the interval shock adjustment in the short term, and better consumption expectations may prompt bulls to test the first line of 15200 yuan / ton again.