[SMM lead Morning News] Shanghai lead high shock closed down 0.2% overnight.

SMM, July 27th:

Last Friday, Lun lead opened at US $1829 / tonne. During the Asian session, Lun lead fluctuated downward, reaching a low of US $1808 / tonne, then stabilized and recovered its decline, reaching a high of US $1841.5 / tonne, nearing the close of trading, and the overall weakness of non-ferrous metals. Lun lead diving gave up its gains and finally closed at 1810.5 US dollars / ton, down 0.98 per cent. The trend of Lun lead is weak, the 20-day moving average has broken down, and the recent macro environment has deteriorated, so it is necessary to guard against the further decline of Lun lead.

Last Friday, Shanghai lead opened at 14970 yuan / tonne. At the beginning of trading, Shanghai lead quickly rose to 15125 yuan / tonne. At the end of the session, Lun lead diving led to an accelerated decline in the domestic market. Shanghai lead was finally reported at 14945 yuan / ton, down 0.2 per cent. Shanghai lead continued high shock, continuous many daily newspapers increased the shadow line, the upward pressure is greater, short-term shock consolidation is mainly expected.

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