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[SMM Weekly selected] lead fundamentals are weak VS funds disturbance is expected to continue to do Borrow contract in August
Jul 11,2020 09:11CST
translation
Source:SMM
[lead fundamentals weak VS funds disturbance is expected to continue to do Borrow contract] domestic market bullish logic, one: the traditional consumption season; second, the macro environment is still good. From the point of view of the market's current willingness to deliver positions, inventory situation, spot rising performance, and scrap price difference, the fundamentals of lead are not obvious, but from the willingness of bulls to receive goods in recent months, there is no willingness to leave before delivery, and it is expected that the contract may continue to do Borrow in August. The lead futures contract is expected to run at 14950Mui 15350 yuan / ton.
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:

Lead market forecast next week: domestic market bullish logic, first: the peak season of traditional consumption; second, the macro environment is still good. From the point of view of the market's current willingness to deliver positions, inventory situation, spot rising performance, and scrap price difference, the fundamentals of lead are not obvious, but from the willingness of bulls to receive goods in recent months, there is no willingness to leave before delivery, and it is expected that the contract may continue to do Borrow in August. The lead futures contract is expected to run at 14950Mui 15350 yuan / ton.

Next week's spot lead forecast: 15000 won 15600 yuan / ton. According to SMM, the production of primary lead enterprises is still stable. Next week, before lead delivery, the smelter is expected to maintain a rising water quotation, but after delivery, if the price continues to rise, the smelter or slightly lower the rising water quotation, while in the trade market, the market supply is relatively abundant, and it is expected that the holder will not expand the water delivery before delivery. In terms of recycled lead, the supply of waste batteries is still tight, and the price of waste batteries is relatively strong, but the price is higher, corporate profits are revised up, and recycled enterprises are expected to give priority to active shipments. On the consumer side, the recovery of domestic automobile consumption, coupled with the future into the peak season of traditional consumption, terminal consumption is slightly expected, but the current price is higher, it is expected that enterprise procurement is mainly in demand.

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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 for next week: the peak season of traditional consumption & the macro environment is good and the price of lead is bullish in the short term.

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

Lead concentrate market

Primary lead: social inventory is expected to continue next week

Profit analysis of recycled lead: the profit of reduced lead smelter is about 100 yuan / ton.

Recycled refined lead market

Alloy lead market: just need to purchase alloy lead downstream

Lead-acid battery market: downstream storage enterprises just need to purchase more recycled lead

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.

"apply for free access to the SMM metal industry chain database

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

Scan the QR code application report for free and join the SMM copper industry chain exchange group

[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
processing fee

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For more information on how to access our research reports, please email service.en@smm.cn

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