2020.7.13
Summary of lead Morning meeting:
Futures market:
Last Friday, Lun lead opened at US $1832 / tonne. In the Asian session, the center of gravity of Lunlun lead moved upward, with the main operating focus on the first line of US $1840. Entering the European period, Lun lead explored a low and rebounded, and continued to rise, reaching a high of US $1868 / tonne, and then gave up the rise. it finally closed at 1855 US dollars / ton, up 1.34%. (lidocaine)
Last Friday, Shanghai lead opened at 15130 yuan / tonne. At the beginning of trading, Shanghai lead rose rapidly, reaching a high of 15505 yuan / ton, then fell slightly, and finally closed at 15450 yuan / ton, an increase of 2.35%. As of last Friday, the warehouse receipt inventory of the previous period increased by 1388 tons to 20314 tons, and the position in 07 contracts was 7255 lots (Lido yen).
Spot fundamentals:
This week, the mainstream spot operation is 14800 won 15500 yuan / ton. According to SMM, this week, Henan, Hunan and other refineries due to maintenance and other related reasons, primary lead production decreased month-on-month, delivery brand refineries to long orders and delivery positions, a small number of bulk orders quoted relatively strong, as of Friday, the market bulk order (delivery brand) to SMM1# lead average price to 50 yuan / ton factory, non-delivery discount 100m 200 yuan / ton. Trade market, the market supply is abundant, but traders will not significantly expand the water delivery, the reason is the same as above, as of Friday, domestic lead ordinary brand lead 2007 contract discount 50 yuan / ton to flat quotation; recycled lead market, with the price higher, corporate profits revised, as of Friday, including tax recycled lead mainstream quotations on the SMM1# lead average discount 300 yuan / ton factory, some areas discount 450 yuan / ton price is still available; Consumer side, from the market feedback, prices continue to go to a high level, downstream enterprise procurement to just need.
As of last Friday, the total inventory of SMM lead ingots in the five places reached 27000 tons, down 300 tons from the previous period.
Lead price forecast today:
Lun lead 6 Lianyang, in the uplink channel, holiday domestic short news are in, technically lun lead may remain strong. Shanghai lead continues to break through the upstream, enter the technical bull market, is expected to continue to strengthen in the short term, pay attention to the macro sentiment of the market.
It is expected that the price of SMM1# lead will rise by 150 million yuan per ton today.
