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[SMM lead Morning News] lead prices have fallen slightly and have a strong trend in the short term.
Jul 31,2020 09:02CST
translation
Source:SMM
Global epidemic control continues to be tense, the performance of Q2GDP in the United States is weak, and the overall non-ferrous metals are slightly back at high levels. Overnight Shanghai lead follows the trend of Lun lead, but as domestic fundamentals are expected to be strong, inventories continue to be removed this week, and short-term lead prices fluctuate at high levels.
The content below was translated by Tencent automatically for reference.

Overnight, Lun lead opened at 1872.5 US dollars / ton. During the Asian session, Lun lead rose steadily at the beginning of the session, rising all the way to 1883.5 US dollars / ton, then stopped rising and stabilized, and entered the European market. Affected by the pessimistic market expectations of the US GDP in the third quarter, Lun lead fell as low as 1852 US dollars / ton. Later, with the release of the data, the market short sentiment eased, Lun lead low pulled up, near the closing stage, Lun lead consolidation shock. It finally closed at US $1869.5 / ton, down 0.45%. Global epidemic control continues to be tense, the performance of Q2GDP in the United States is weak, and the overall non-ferrous metals are slightly back at high levels.

Overnight, Shanghai lead opened at 15590 yuan / ton. At the beginning of the session, Shanghai lead fluctuated, then fell to a low of 15525 yuan / ton. After hitting the bottom, due to long positions increasing positions rebounded to the highest level of 15680 yuan / ton, and finally reported at 15600 yuan / ton, a decline of 0.29%, giving up the daytime increase. Overnight Shanghai lead follows the trend of Lun lead, but as domestic fundamentals are expected to be strong, inventories continue to be removed this week, and short-term lead prices fluctuate at high levels.

 

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