Summary of lead Morning meeting:
Futures market:
Overnight, Lun lead opened at US $1778.5 per tonne. During the Asian session, Lun lead was under pressure to operate below the daily moving average. During the European period, Lun lead rebounded to a high of US $1790 / ton at one point, then fell back to a high and gave up its rise. it finally closed at 1772.5 US dollars / tonne, down 0.2 per cent. (bullish)
Overnight, Shanghai lead opened at 14770 yuan / ton. At the beginning of trading, Shanghai lead fell rapidly, reaching 14650 yuan / ton at one time, then basically running at 14700 yuan / ton, and finally reported at 14730 yuan / ton, a drop of 0.64%. (bullish)
Spot fundamentals:
Shanghai market Mu Lang lead to Shanghai lead 2007 contract discount 70Mue 50 yuan / ton price; Jiangsu and Zhejiang market Muleng, Jiangtong lead to Shanghai lead 2007 contract discount 70mur50 yuan / ton to level water quotation; imported KZ lead 14850 yuan / ton, Shanghai lead 2007 contract discount price 100 yuan / ton; lead impulse energy is limited, after opening in the morning, the price of the bearer follows the market; Source of primary lead, Henan Jinli, Wanyang 14700Mel 14750 yuan / ton, the average price of SMM1# lead discount 50 million 100 yuan / ton (traders); Henan Minshan 14750 million 14800 yuan / ton, the average price of SMM1# lead discount 50 yuan / ton to level water quotation; recycled lead market, waste batteries quoted to maintain stability, restore lead prices are relatively strong, including tax on recycled lead refined lead discount 250 yuan / ton-350 yuan / ton; downstream just need to transfer, the trade market turnover continues to be in the doldrums. (bullish)
Lead price forecast today:
Lun lead around the high shock, below the 20-day moving average there is support, short-term is expected to be mainly strong shock. There is support for the 10-day moving average in Shanghai lead technology, which is expected to be dominated by high-level shocks.
It is expected that the price of lead in SMM1# will fall by 50 million yuan per ton today.
