Summary of lead Morning meeting:
Futures disk:
Overnight, Lun lead opened at US $1625.5 / tonne. During the Asian session, Lun lead fluctuated in a narrow range around 1625 yuan, entered the European period, and plunged downwards, reaching a low of US $1595 / ton, approaching a previous low, and finally reported at US $1597 / tonne, down 2.05%. Shanghai lead opened at 13760 yuan / ton. During the Asian period, Shanghai lead moved around 13730 yuan. After that, Shanghai lead weakened, and Shanghai lead followed the downward trend, reaching a low of 13595 yuan / ton. Around slightly recovering the decline, it was finally reported at 13700 yuan / ton, a drop of 0.8 percent.
Spot fundamentals:
The price of lead in Shanghai market increased by 280-300 yuan / ton on the contract of lead 2006 in Shanghai market, and 200 yuan / ton in the contract of lead 2006 in Shanghai market, and the price of lead in Shanghai market increased by 280-300 yuan / ton in Shanghai market, and 200 yuan / ton in southern lead contract in Wuxi market. Recycled lead, waste battery mainstream quotation to maintain stability, including tax recycled lead discount slightly narrowed, the mainstream reported to the SMM1# lead average price discount near 200 yuan / ton, some areas have deep water quotation; downstream to maintain on-demand procurement, and tend to the price of better recycled lead, bulk market transaction activity is general.
Today's lead price forecast:
The trend of Lun lead is weak, mainly affected by the worry that there may be a second outbreak of the current epidemic overseas, coupled with its poor fundamentals and short-term attention to the early low support; Shanghai lead gives up the rise, and the upsurge of funds seems to have ended. Short-term focus on lead price platform support;
SMM1# lead prices are expected to fall by 75-125 yuan per tonne today.
