[SMM lead Morning News] Shanghai lead high shock closed down 0.2% overnight.

Published: Jul 27, 2020 08:40

Save

SMM, July 27th:

Last Friday, Lun lead opened at US $1829 / tonne. During the Asian session, Lun lead fluctuated downward, reaching a low of US $1808 / tonne, then stabilized and recovered its decline, reaching a high of US $1841.5 / tonne, nearing the close of trading, and the overall weakness of non-ferrous metals. Lun lead diving gave up its gains and finally closed at 1810.5 US dollars / ton, down 0.98 per cent. The trend of Lun lead is weak, the 20-day moving average has broken down, and the recent macro environment has deteriorated, so it is necessary to guard against the further decline of Lun lead.

Last Friday, Shanghai lead opened at 14970 yuan / tonne. At the beginning of trading, Shanghai lead quickly rose to 15125 yuan / tonne. At the end of the session, Lun lead diving led to an accelerated decline in the domestic market. Shanghai lead was finally reported at 14945 yuan / ton, down 0.2 per cent. Shanghai lead continued high shock, continuous many daily newspapers increased the shadow line, the upward pressure is greater, short-term shock consolidation is mainly expected.

Click to sign up for SMM 2020 (15th) lead and Zinc Summit

Scan the QR code in the picture to sign up for the lead-zinc summit and fill in the personal information on the last page. The meeting staff will contact you later!

Transactions in Shanghai stock market lead price morning news import and export

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.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

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

Related News

1 hour ago

Vizsla Copper to Acquire Alaska’s Delta Zinc-Lead-Copper VMS Project; Agnico to Take 19.99% Stake

Vizsla Copper announced that it had agreed to acquire 100% of the Delta polymetallic VMS project and the Helm Bay gold project in Alaska from Agnico Eagle. The transaction is expected to close in the fourth quarter of 2026. Delta carries a historical resource estimate of 15.4 million tonnes grading 3.8% zinc, 1.7% lead, 0.6% copper, 62 g/t silver and 1.7 g/t gold; the estimate has not been verified as a current mineral resource. Vizsla will issue Agnico 22.52 million shares, representing approximately 19.99% of its issued shares at signing. Subject to disinterested shareholder approval, a further 2.90 million shares would lift Agnico’s ownership to about 22%. The consideration also includes 3.04 million two-year warrants exercisable at C$1.95 per share, plus 2% and 3% NSRs on Delta and Helm Bay, respectively. Agnico may invest up to C$5 million in Vizsla’s post-closing financing, provided the financing exceeds C$30 million.

1 hour ago

3 hours ago

SHFE and LME retreat in tandem, SHFE lead closes down 0.49% with increased positions in night session [SMM Lead Morning News]

3 hours ago

Primary Lead Holds Prices Firm & Secondary Refined Lead Discounts Widen, Lead Prices Under Pressure at High Levels [SMM Lead Morning Meeting Summary]

3 hours ago