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[record of SMM lead Internal Morning meeting on May 20th] the trend of Shanghai lead is strong and downstream enterprises wait and see mainly.
May 20,2020 09:13CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

Summary of lead Morning meeting:

Futures market:

Overnight, Lunlun lead opened at 1657 US dollars / ton. In the Asian session, the market operated smoothly, the center of gravity fluctuated around 1665 US dollars, and entered the European period. Early Lunlun lead quickly dived down, reaching a low of 1649 US dollars / ton, and then Lun lead recovered its decline. At one point, it rose to 1687 US dollars / ton, and finally reached 1681 US dollars / ton, up 18.50 US dollars / ton, or 1.11%.

Shanghai lead opened at 14095 US dollars / ton. At the beginning of trading, Shanghai lead quickly fell to 13995 yuan / ton, and then stopped falling and stabilized. This was mainly affected by overseas strength. Shanghai lead rose to around 14135 yuan, lacked momentum and fell slightly. It was finally reported at 14125 yuan / ton, an increase of 0.57%.

Spot fundamentals:

Shanghai Changchi Honglead quoted price for Shanghai lead 2006 contract rising water 260 won 300 yuan / ton; Southern lead quoted price for Shanghai lead 2006 contract rising water 180 Mel 200 yuan / ton. Lead high down, and the holder due to limited supply, continue to rise water quotation, original lead smelter supply, Jinli to SMM1# lead average price discount 50 yuan / ton to level water quotation, Yuguang on SMM1# lead average price rising water 100yuan / ton quotation, recycled lead, enterprises more on the waste battery quotation, restore lead market supply is tight, low price difficult to mine, recycled lead market trading light, supply and demand dilemma. The downstream is not optimistic about the future, more wait-and-see and careful adoption, the trading of the bulk market is light.

Lead price forecast today:

Lun lead reported low closing er Lianyang, there is the possibility of breaking through the platform high of 1690 US dollars, overseas fundamentals do not see signs of improvement, need to carefully rush higher after the rapid weakening; Shanghai lead low closed at four Lianyang, close to breaking the platform high of 14150 yuan / ton, Shanghai lead advantage is strong recently, pay attention to whether it can effectively break through the platform uplink.

It is expected that today's SMM1# lead price trend is flat to rise 25 yuan / ton.

Lead; lead brief review
price forecast
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