LME Lead Soars on Fed Rate Cut Hopes; Market Sees Sporadic Deals Amidst Smelter Shipment Boost

Publicado: Aug 28, 2024 08:58
【SMM Lead Morning Meeting Summary: Lead Smelters Actively Shipped Out Goods Yesterday, and Sporadic Deals Improved in the Market】Overnight, LME lead opened at $2,113/t, briefly touching a low of $2,102/t during the Asian session; boosted by the expected interest rate cut by the Federal Reserve, which spurred buying sentiment, LME lead rose to a high in the European session... On the macro front, the minutes of the Federal Reserve's discount rate meeting revealed that board members overseeing the Chicago and New York Feds voted in July to reduce the discount rate by 25 basis points. Recently, Hainan Province in China issued the "Hainan Province's Implementation Plan to Accelerate the Promotion of Trade-ins for Consumer Goods," and proposed supporting the trade-in of electric bicycles for...

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【SMM Lead Morning Meeting Summary: Lead Smelters Actively Shipped Out - Shanghai Metals Market (SMM)