SMM Lead Market Outlook: Mixed Fundamentals, Fed Rate Decision Awaited, Prices Expected to Consolidate

Publicado: Sep 2, 2024 09:00
[SMM Lead Morning Meeting Summary: Fundamentally, Bullish and Bearish Factors Intertwine, and Lead Prices May Maintain a Consolidation Trend in the Short Term] The Federal Reserve will decide whether to cut interest rates by 25 or 50 basis points, depending on the last non-farm payrolls report before the September decision. Bank of America's "Big Shift": Bullish on commodities, bearish on U.S. Treasuries, with the key factor being the upcoming release of the U.S. ISM manufacturing index. In terms of fundamentals, the trends of lead ingot factory inventories and social warehouses diverge, with relatively loose market supply circulation. The spot market generally trades with a large discount, resulting in a weaker and volatile lead price. Although last Friday, five departments including the Ministry of Commerce...

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[SMM Lead Morning Meeting Summary: Fundamentally, Bullish and Bearish - Shanghai Metals Market (SMM)