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[may 13 SMM lead internal morning meeting record] fear of heights downstream to watch the end of the one-day tour of lead in Shanghai
May 13,2020 09:25CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

Summary of lead Morning meeting:

Futures disk:

Overnight, Lun lead opened at $1674 / ton, Asia period, Lun lead shock upward, as high as $1683 / ton, then shock downward, into the European period, non-ferrous metal collective pullback, Lun lead shock downward, low to $1630.5 / ton, finally reported at $1630.5 / ton, down 2.66%; Shanghai lead opened at 14140 yuan / ton, Shanghai lead at the beginning of the day affected by the weakening of the outside market, a rapid decline, the low once reached 13955 yuan / ton, then stabilized, finally reported at 13990 yuan / ton, down 1.13%.

Spot fundamentals:

The price of lead in Shanghai period fell back, and there was no great change in the quotation quoted by the holder for the time being. Among them, Jinsha lead in Shanghai market quoted by 280300 yuan / ton for Shanghai lead 2006 contract, Wuxi market south lead for Shanghai lead 2006 contract increased by 200 yuan / ton, and primary lead smelter gave priority to delivery bill. In the aspect of recycled lead, recycled lead enterprises strictly control the quotation of waste batteries, only a small increase, including tax regenerated refined lead mainstream transaction price has expanded, overquoted to the SMM1# lead average price discount 200yuan / ton or more out of the factory, but the recycled lead market trading is light; downstream fear of high wait and see, primary lead and recycled lead factory shipments expand again, the trade market transaction is light.

Today's lead price forecast:

After the overnight non-ferrous metals rebounded for many days, Lun lead gave up the rise, undermining the upward trend, focusing on the direction of Shanghai lead operation during the domestic period, Shanghai lead gave up the rise, Shanghai lead speculative funds left dramatically, and the short-term shock is expected to weaken.

SMM1# lead prices are expected to fall by 200-250 yuan per ton today.

Lead; lead brief review
price forecast
output

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