Summary of lead Morning meeting:
Futures market:
Overnight, Lun lead opened at US $1606 / tonne. During the Asian session, Lun lead mainly fluctuated in a narrow range, but its center of gravity slowly moved upward. in the European period, Lun lead followed other metals upward, reaching a high of US $1672.5 / tonne at one point and finally trading at US $1662.5 / tonne, an increase of 3.84%.
Shanghai lead opened at 14005 yuan / ton. At the beginning of trading, Shanghai lead followed the upward trend, reaching a high of 14185 yuan / ton at one point, then falling back after the shock, giving up the increase, and finally reported at 14125 yuan / ton, an increase of 1.22%.
Spot fundamentals:
Shanghai Changchi Honglead quotation for Shanghai lead 2006 contract rising water 240tel 300 yuan / ton; Wuxi market southern lead price for Shanghai lead 2006 contract rising 200yuan / ton, the expected lead rebounded slightly, and the price of the consignor has not changed much from last week. At the same time, there are pre-sale quotations for imported lead in the market, and the primary lead smelters are dominated by traffic orders. In terms of recycled lead, some recycled lead enterprises have moderately raised the quotations for waste batteries, reflecting the continuing tension in the circulation of waste batteries on the market, the reduction of lead smelting is difficult to say profit, the supply is limited, and the discount range of recycled lead including tax is narrower than at the beginning of last week; the downstream is not optimistic about the future, maintaining the need to purchase, and the transaction in the bulk market is general.
Lead price forecast today:
Lun lead low stop falling stable, but mostly to follow, their own fundamentals do not have a strong motivation to rise, Shanghai lead closed at 3 Lianyang, but there is still selling pressure near the high level, concerned about whether the platform can effectively break through.
It is expected that the lead price of SMM1# will rise by 150 million yuan per ton today.
