Summary of lead morning meeting:

Futures disk:

Overnight, Lun lead opened at 1636 US dollars / ton, in Asia, Lun lead quickly pulled up at the beginning of the session, the high level once reached 1651.5 US dollars / ton, in the afternoon, Lun lead diving down, giving up the increase, entering the European period, Lun lead continued to concussion market, around the stage, Lun lead small dive, finally reported at 1637 US dollars / ton, down 0.27%; Shanghai lead opened at 13820 yuan / ton, Shanghai lead rose rapidly at the beginning of the day, to 13910 yuan / ton, and then gave up the increase, and began to continue the horizontal plate shock, finally reported at 13875 yuan / ton, up 0.29%;

Spot fundamentals:

On the first day after the festival, the trend of lead in Shanghai was strong, and the contract was consolidated around Wansi that month, and the holder continued to quote high water prices before the festival. Among them, Shanghai market Jinsha lead to Shanghai lead 2006 contract rose 600-620 yuan / ton quotation, Wuxi market south, Shuikoushan Shanghai lead 2005 contract rose 550 yuan / ton quotation, primary lead smelter to hand over long order mainly; In the aspect of recycled lead, due to the increase in the demand of recycled lead enterprises, the replacement volume of superimposed waste battery has not been improved, resulting in strong waste quotation, flat transaction in the recycled lead market, unmanifested goods after the festival, and basically maintaining the discount range of recycled refined lead including tax. However, the downstream replenishment is limited, the inquiry is not much, and it is difficult to conclude transactions at high prices in the bulk market.

Today's lead price forecast:

Lun lead continued low shock, the overall trend has no clear direction, short-term strong pressure is greater; Shanghai lead continued high shock, short-term test 14000 pressure support, the market is currently bearish view is more consistent, still need to be cautious to short sha short;

SMM1# lead prices are expected to rise by 100-150 yuan per ton today.