Home / Metal News / Precious Metals / [overnight market] Metal rises and falls lead hits a three-year high, three major US stock indexes have two consecutive gains.
[overnight market] Metal rises and falls lead hits a three-year high, three major US stock indexes have two consecutive gains.
Jul 22,2021 06:56CST
Translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7 March 22: metals rose and fell both inside and outside overnight, of which lun lead closed up 0.69%, reaching an intraday high of 2350 points, hitting a three-year high. Sources say the parent company of German manufacturer Berzelius Stolberg has stopped production at its factory in Stolberg, western Germany, after floods hit last week. This is the largest primary lead smelter in Europe, with the group producing about 155000 tons of lead and lead alloys a year. In terms of internal trading, SMM believes that the extent of lead ingot inventory accumulation this week may slow down due to power cuts and transportation problems, or lead will run high during the support period.

The dollar index fell 0.2% as US stocks collectively rose due to a shift in the market's preference for venture capital. As demand for risk aversion cooled as Treasury yields and US stock markets rose.

In terms of US stocks, by the close, the Dow was up 0.83% at 34798.00, the S & P was up 0.82% at 4358.69, and the NASDAQ was up 0.92% at 14632.00.

For crude oil, oil prices rose sharply yesterday, following the overall rise in financial markets, while official US data showed a decline in peak summer driving periods for both gasoline and refined oil depots. Last week, domestic refined oil stocks fell the most since mid-May, while gasoline stocks also fell, according to a report from the US Energy Information Administration.

On precious metals, gold prices fell for a second consecutive session to their lowest level in more than a week, while 10-year Treasury yields continued to rebound from five-month lows, dampening demand for precious metals.

SMM comment
exclusive report
headline recommendation

For queries, please contact Frank LIU at liuxiaolei@smm.cn

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