Home / Metal News / Lead / [brief Review of SMM lead] smelters have a certain accumulation pool during the holiday season and expect subsequent lead prices to weaken.
[brief Review of SMM lead] smelters have a certain accumulation pool during the holiday season and expect subsequent lead prices to weaken.
May 5,2020 16:42CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM5, May 5: due to the continuation of the overseas epidemic, coupled with the rising trend of Lun lead stocks, LME lead 0-3 sticking expanded to US $27.75 / ton before May Day (April 30). Lun lead also fell for a while, falling below US $1600 / ton. During the holiday period, major crude oil producing countries cut production as scheduled. After some parts of Europe and the United States planned to relax blockade measures, plan to restart their economies, boost market pessimism, Lun lead rebounded according to the situation, and basically repaired the decline before the festival (April 30). By 16:25 on May 5, Lun lead was quoted at US $1643 / ton. After another May Day holiday, because the lead consumption market is in the traditional off-season, the storage battery enterprise inventory is generally on the high side, the production enthusiasm is limited, there are varying degrees of holiday during the festival period, at the same time, the newly expanded production capacity of recycled lead is about to be released, the electrolytic lead smelter during the festival period is expected to have a certain accumulation pool, after the festival lead ingot probability appears accumulation situation, it is expected that the follow-up lead price will show a concussion weakening trend, spot or lost Wansi pass.

"[holiday market review] the rise and fall of metals in London are mixed with OPEC+ to reduce production and implement a general rise in crude oil futures.

SMM "current combination" training class

Registration contact: Lu Qingping, SMM Iron and Steel Division

Tel: 021-51595781 / 187-1777-4590

Lead price
prospect

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn