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[minutes of SMM Morning meeting] the rise in lead prices slows down, and the price of waste batteries is easy to rise and difficult to fall.
Jul 14,2020 09:16CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

2020.7.14

Summary of lead Morning meeting:

Futures market:

Overnight, Lun lead opened at 1855.5 US dollars / ton. In the Asian session, the center of gravity of Lun lead moved upward, and the trend was relatively strong. Entering the European period, Lun lead continued to rise, reaching a high of 1886 US dollars / ton, a new high since February, and finally closed at 1884.5 US dollars / ton, an increase of 1.59 per cent. (lidocaine)

Overnight, Shanghai lead opened at 15480 yuan / ton. At the beginning of trading, Shanghai lead strengthened rapidly, reaching a high of 15635 yuan / ton, then fell slightly in late trading and finally closed at 15580 yuan / ton, an increase of 0.78%. As of yesterday, the warehouse receipt inventory of the previous period increased by 5642 to nearly 26000 tons today, while the position in 07 contract decreased by 140. there are still more than 7100 hands left. (lidocaine)

Spot fundamentals:

Shanghai market Mu Lang lead to Shanghai lead 2007 contract discount 50 yuan / ton, Jiangsu and Zhejiang market south, Tongguan lead to Shanghai lead 2007 contract discount 50 yuan / ton to level water quotation, Henan Minshan lead average price parity quotation, lead futures continue to strengthen, the monthly contract hit Wanxu, the consignor raised the price for shipment, the quotation discount remained unchanged than last week, while the lower reaches of the high-priced goods wait and see carefully, the actual transaction is few, the holder sits waiting for delivery. The supply of waste batteries is in short supply, affected by the rising price of lead, the procurement demand of smelters is high. Yesterday's quotations for waste batteries generally rose by 50 million yuan / ton, while those offered by some enterprises increased by more than 150 yuan / ton. In addition, recycled refined lead to maintain a deep discount, yesterday's average price of SMM1# lead mainstream quotation at 350ml 450 yuan / ton, downstream fear of high careful mining, still prefer recycled refined lead deep sticking water supply.

Lead price forecast today:

Lun lead technical bull market, more emotional, there is still a short-term upside possibility. Shanghai lead is still in the upward stage and is cautiously shorting in the current market.

SMM1# lead prices are expected to be flat or cut by 50 yuan per ton today.

Lead; lead brief review
price forecast
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