Summary of lead morning meeting:
On Friday, shanghai lead opened at 13900 yuan / ton, slightly higher at the beginning of the session to 13925 yuan / ton, then Shanghai lead shock weakened, after the basic line of 13850 yuan, near the close, shanghai lead probe as low as 13815 yuan / ton, and finally reported 13815 yuan / ton, down 0.58%.
Last week, lead prices fluctuated and refinery inventory remained low, but refinery bulk orders quoted lower prices and weaker actual consumption. As of Friday, the mainstream market of bulk orders reported that the average price of SMM1# lead rose 50 yuan / ton to leave the factory in Pingshui; in the trade market, the supply of goods in circulation was still relatively limited, and most of the consignors reported a high rise in water. As of Friday, it was quoted as 450 RMB500 / ton for 2006 contracts. Recycled lead in the market volume increased this week, as of Friday, including tax recycled lead mainstream quotation of SMM1# lead average price discount 150,200 yuan / ton factory, individual areas have discount 250yuan / ton or more ex-factory quotation;
In addition, as of Friday (May 8), SMM five lead ingot stocks totaled 8000 tons, down more than 300 tons from before the festival.
Today's lead price forecast:
Bank holiday, LME closed for one day; Shanghai lead continued box shock, short-term expected to shock market;
SMM1# lead prices are expected to fall 25-75 yuan per tonne today.