Lead Market Update: Futures Dip, Spot Trading Sluggish Despite Low Inventories

Publicado: Aug 23, 2024 08:56
[SMM Lead Morning Meeting Summary: Overnight Lead Futures Under Pressure and Weakened; Spot Market Maintains Discount Sales and Trading Remains Sluggish] In macroeconomic news, the US dollar index weakened, and LME non-ferrous metals were generally under pressure. LME lead ended its rally and tested the support level of $2,050 per ton. Fundamentally, domestic lead ingot social inventories fell sharply and hit a new low since June 5, 2020. However, the spot trading market did not experience a tight supply of circulating goods due to the significant decrease in visible inventories in delivery warehouses, and primary lead and secondary lead smelters could still supply. In addition...

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[SMM Lead Morning Meeting Summary: Overnight Lead Futures Under Pressu - Shanghai Metals Market (SMM)