[summary of SMM Morning meeting] Shanghai lead stops falling and the supply of recycled lead is tight.

Published: Jul 22, 2020 09:10

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2020.7.22

Summary of lead Morning meeting:

Futures market:

Overnight, Lun lead opened at 1829 US dollars / ton. In Asian time, Lun lead's low position fluctuated upward, entering the European period, Lun lead inertia shot up to 1851.5 US dollars / ton. After that, Lun lead lost momentum, and then basically continued the shock trend. It finally closed at 1841.5 US dollars / ton, an increase of 0.68 per cent. As of yesterday, LME lead stocks rose 11175 tonnes to 74075 tonnes. (lidocaine)

Overnight, Shanghai lead opened at 15015 yuan / ton. At the beginning of the session, Shanghai lead rose rapidly, raising the operating center of gravity, reaching a high of 15105 yuan / ton, and then basically continued the shock trend, finally reported at 15080 yuan / ton, an increase of 0.03%. (lidocaine)

Spot fundamentals:

Shanghai market Mulun lead price 50 yuan / ton price for Shanghai lead 2008 contract, Jiangsu and Zhejiang market Muleng, Wanyang, Yuteng lead price 50 yuan / ton for Shanghai lead 2008 contract, imported KZ lead price for Shanghai lead 2008 contract level quotation, Henan Jinli, Wanyang lead average price discount for SMM1# lead 20 yuan / ton to Pingshui (trader), Henan Minshan lead average price 50 yuan / ton for SMM1# lead. Lead concussion rebounded in the future, and the price quoted by the holder followed the market, and the rising water price did not change much for the time being. at the same time, the refinery sticker water narrowed, the downstream inquiry increased, and the market trading atmosphere was good. Recycled lead, waste battery prices are easy to rise and difficult to fall, recycled refinery costs remain high, or high-price shipments, or pressure goods to rise, the supply of recycled lead is in short supply, the original lead price rebounded, recycled lead stickers also shrank, mainstream quotations on SMM1# lead average price discount 150For 250 yuan / ton, downstream procurement warmed up.

Lead price forecast today:

Lun lead low closed at two consecutive positive, gradually stopped falling and stabilized, and the overall trend remained upward. The low shock of lead in Shanghai rebounded, showing a trend to stop falling and stabilize, and the upward trend is expected to continue in the short term.

The price of lead in SMM1# is expected to rise by 100,150 yuan per ton today.

Lead; lead brief review price forecast output

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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