Lead Market Bounces Back: Fed Rate Cut Hopes Boost Prices, Panic Eases in Downstream, Trading Momentum Picks Up

Published: Sep 13, 2024 08:50

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[SMM Lead Morning Meeting Summary: Lead Prices Rebound, Panic Eases among Downstream Players, and Spot Market Trading Gradually Picks Up] Macroscopically, the market continues to anticipate interest rate cuts by the Federal Reserve, leading to a correction in the US dollar index and a general boost for non-ferrous metals, with London lead surging in this atmosphere. Domestically, during the previous decline in lead prices, the losses of recycled lead smelting enterprises widened, with shipments of recycled refined lead in a few regions once quoted at a premium of 50-200 yuan/ton over the average price of SMM 1# lead at the ex-factory level, inverting prices compared to primary lead. After lead prices stabilized and rebounded...

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