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[summary of SMM Morning meeting] consumption of lead in Shanghai is strong upstream and downstream.
Jul 28,2020 09:13CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

2020.7.28

Summary of lead Morning meeting:

Futures market:

Overnight, Lun lead opened at US $1811 / ton. During the Asian session, Lun lead fluctuated upwards, then ran on the front line at US $1822. After entering the European period, Lun lead slightly bottomed out and rebounded, and accelerated upward, reaching a high of US $1860 / ton, breaking through the platform uplink and finally trading at US $1855.5 / tonne, an increase of 2.49%. (lidocaine)

Overnight, Shanghai lead opened at 15195 yuan / ton. At the beginning of the session, Shanghai lead rose rapidly, the overall center of gravity moved up, reached 15395 yuan / ton, and then fell slightly to 15350 yuan / ton, an increase of 1.72%. (lidocaine)

Spot fundamentals:

Mulun lead in Shanghai market quoted flat water price for Shanghai lead 2008 contract, Jiangsu and Zhejiang market Muleng and Yuteng lead quoted flat water price for Shanghai lead 2008 contract, imported KZ lead to Shanghai lead 2008 contract with a discount of 100-80 yuan / ton, and Minshan of Henan Province quoted an average price of 100 yuan / ton for SMM1# lead. Lead futures are strong upward, the shippers continue to ship, and the quotation is lowered, while there is a regional shortage of goods in the spot market. A small number of consignors offer a price of 150 yuan / ton for the Shanghai lead 2008 contract, and downstream pick up goods on demand. Most of the transactions are near Pingshui, and the volume of Gaoshengshui is less. In terms of recycled lead, the price of waste batteries is strong, the supply of reduced lead is tight, and the discount of recycled refined lead shrinks. The mainstream quotation is 50-100 yuan / ton on the average price of SMM1# lead, some refineries are quoted to flat water, there are more inquiries downstream, and the trading atmosphere is good.

Lead price forecast today:

Lun lead technology to maintain a relatively strong trend, short-term attention to whether it can effectively break through the platform. Lead fundamentals are expected to improve, the recent market supply is tight, consumption rebounded obviously.

The price of lead in SMM1# is expected to rise by 200-250 yuan per ton today.

Lead; lead brief review
price forecast
output

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