Summary of SMM Lead Morning Meeting: Overnight Lead Prices Consolidate

Published: Sep 8, 2023 08:38

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Summary of SMM Lead Morning Meeting: Overnight Lead Prices Consolidated at High Levels, Widening of Spot-Futures Spreads Ahead of Delivery, Market Sentiment of Cautiousness. Macroscopically, the US Dollar Index consolidated at high levels, while domestically, the warm atmosphere was mainly brought by policies related to economic recovery. Yesterday, 1375 tons of lead were withdrawn from LME warehouses, mainly from Kaohsiung warehouses. Fundamentally, production recovery of primary lead and refined lead in September was the main theme, while the start of the peak season of storage batteries was not as strong as expected, and the start-up situation may decrease year-on-year. Yesterday, the spot-futures spread widened again, squeezing out the back structure...

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