[April 28 SMM lead internal morning meeting record]

Summary of lead morning meeting:

Futures disk:

Overnight, lun lead opened at $1629.5 / tonne, and in Asia, boosted by weekend reserves, it rose quickly, reaching a high of $1656 / tonne, and entering the European session, lun lead rallied and gave up gains. It hit a low of $1624.5 / tonne and finally reported $1636.5 / tonne, an increase of 0.77 per tonne.

Spot fundamentals:

Boosted by the closing and storage news, lead prices rose strongly, coupled with a small supply of goods in circulation in the market, some of them still maintained high water quotation, among them, Shanghai market Jinsha lead to Shanghai lead 2005 contract rose 380400 yuan / ton quotation, primary lead refinery to cross long single, Jinli to SMM1# lead average price rose 100 yuan / ton; In the aspect of recycled lead, the quotation of waste battery is moderately raised, the transaction price of recycled lead is strengthened with the price of lead, the overall trading price is general, and the preparation of goods before the festival has not yet been reflected; while the downstream procurement is cautious, one after another turns to the factory supply or recycled lead, and there are few transactions in the bulk market.

Today's lead price forecast:

The trend of Lun lead is weak, the upward force is insufficient, and there is a risk of continuing to descend in the short term.; according to the last notice, night trading will resume on May 6;

SMM1# lead prices are expected to fall flat to 50 yuan / tonne today.