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[brief comment] domestic fundamentals are partial to Shanghai lead to continue to bear pressure?
Oct 31,2019 15:20CST
The content below was translated by Tencent automatically for reference.

SMM news: since the return of the National Day holiday, Shanghai lead 1912 contract from the highest price 17200 yuan / ton shock downward, all the way down to the lowest price 16520 yuan / ton. Yesterday, the Fed cut interest rates for the third time, Lun lead fell sharply, also caused Shanghai lead to jump short low open. The outer plate is the first to weaken, the domestic will show a certain degree of resistance, pay attention to the following 16500 yuan 16600 yuan / ton platform support in the near future.

Guangzhou Futures Li Jun believes that from the domestic fundamentals, the price difference between primary lead and recycled refined lead is still large, and recycled refined lead still has a substitution effect on primary lead. In addition, the profit of recycled refined lead is still considerable, and the production willingness of recycled refined lead enterprises is strong. From the demand point of view, lead-acid batteries into the traditional off-season, downstream consumption performance is low. To sum up, the domestic fundamentals are empty, it is difficult to boost lead prices, Shanghai lead is expected to continue to operate under pressure.

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