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[may 8 SMM lead internal morning meeting record] Shanghai lead high fall back to the spot market trading light
May 8,2020 09:23CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

Summary of lead morning meeting:

Futures disk:

Overnight, Lun lead opened at $1637 / ton. In Asia, Lun lead rose slightly after a slight shock, the center of gravity moved up to US $1640, and entered the European period. Lun lead rose rapidly, reaching a high of US $1665 / ton at one point, and then giving up the increase. Finally, it was reported at US $1646 / ton, up 0.55%. Shanghai lead opened at 13910 yuan / ton, Shanghai lead quickly rose to 14000 yuan / ton, after the breakthrough is not strong, Shanghai lead fell back, low to 13875 yuan / ton, finally reported at 13880 yuan / ton, down 0.04%;

Spot fundamentals:

The trend of lead in Shanghai period is strong, and some traders continue to quote high water price because of limited warehousing. Among them, Shanghai market Jinsha lead to Shanghai lead 2006 contract rising water 560-600 yuan / ton quotation, Wuxi market southern lead to Shanghai lead 2006 contract rising water 500-550 yuan / ton quotation, primary lead smelter to exchange long order mainly; recycled lead, waste battery quotation with lead price rising, low price supply difficult, recycled lead market trading light; Downstream fear of high and careful mining, high price transaction is extremely difficult, and some other holders to SMM1# lead average price level or small discount quotation (spot), there are a small number of transactions.

Today's lead price forecast:

Although Lun lead stabilized in the low position, but the trend is still weak, the upper pressure is greater, Shanghai lead touched the box high again down, the overall continuation of the concussion market;

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

Lead; lead brief review
price forecast
output

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