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[selected SMM Weekly] the inventory base is low & the bottom of Shanghai lead in refinery maintenance is supported by Wansi pass.
May 30,2020 09:04CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

"SMM lead Industry chain Weekly report" released, the weekly report SMM will select the hot topics, prices, market or major changes in the industry chain information released into a document for your reference.

The following is an excerpt from the weekly report of SMM lead industry chain:

The lead market predicts next week: due to the current low inventory base of Shanghai lead, the position of 07 contract is high, and the closing position of 07 contract may accelerate after 6 months, and the price difference between contracts will further expand. In terms of supply, the overhaul of Chihong and other refineries will affect the release of primary lead in June. Although there is also an increase in recycled lead, considering that the current market is in the context of low inventory, there is a Wansi pass at the bottom of Shanghai lead. Although the 5-day moving average above the direct pressure, but the bulls have not yet dissipated energy, next week may be 13950Mel 14400 yuan / ton range wide shock.

Primary lead market: imported lead has come to Hong Kong one after another this week to become the main force for the rise in lead ingot inventory. at the same time, lead prices have broken upwards at the beginning of the week, smelters and traders are more willing to ship goods, factory discounts are expanded (for SMM1# lead average prices), trade market warehouse receipts or quotations are also down (for Shanghai lead 2006 contracts), while downstream generally do not hold optimistic expectations for the future, large enterprises mostly purchase with long orders. Or on-demand procurement of primary lead or recycled lead factory shipments (the price is better than the supply of goods in the trade market), so the inventory of lead ingots is obviously accumulated. It is also understood that for June, imported lead will still have a certain inflow, and will become the primary concern of whether lead ingots are tired or not.

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Catalogue of "SMM lead Industry chain Weekly report" in this issue

Key points of this week's report: operating rate of primary lead regenerated lead-lead battery

Forecast next week: the inventory base is low & the refinery overhaul is supported by the Wansi pass at the bottom of Shanghai lead.

SMM lead data: lead concentrate TC Shanghai and Guangdong lead inventory LME inventory

Lead concentrate market

Primary lead: the inflow of imported lead will become the primary concern for the subsequent accumulation of lead ingots.

Recycled lead market: the profits of recycled lead enterprises have not been significantly repaired.

Profit Analysis of recycled lead: reduction lead smelting is still difficult to make a profit

Recycled refined lead market

Alloy lead market: enterprises purchase alloy lead on demand

Lead-acid battery market: trading in the spot market remains sluggish, especially in the trading sector.

Silver-sulfuric acid

Futures and import and export markets

Hot spots in the industry

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[China lead Industry chain High-end report] China lead Industry chain monthly report includes macro interpretation, monthly lead price review, interpretation of hot events in various sections of the lead industry chain (ore, primary lead, recycled lead and lead battery), future forecasts, and simultaneous release of monthly lead concentrate, primary lead, recycled lead and lead battery enterprise operating rate and inventory survey, lead concentrate monthly balance, lead monthly balance and other data. Covers the entire lead industry chain.

[China lead Industry chain routine report] China lead Industry chain Weekly report includes a macro interpretation, a review of lead prices within the week, market trends in various sections of the lead industry chain (primary lead, recycled lead and lead batteries), weekly social inventory of lead ingots, and future forecasts, and focuses on the analysis of lead concentrate TC, refined waste price difference, recycled lead profits, etc., and a comprehensive interpretation of the lead market during the week.

Weekly report
lead price
price forecast
inventory
output
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