SMM Lead Morning Meeting Minutes: Significant Accumulation of Lead Ing

Published: Feb 19, 2024 08:11

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SMM Lead Morning Meeting Minutes: Significant Accumulation of Lead Ingots Inventory after the Holiday, Lead Prices May Run Weak in the Near Future. During the holiday, the London lead market fluctuated, opening at $2052.5 per ton on Friday, February 9. Throughout the week, it weakened as LME Singapore lead inventory increased by 4500 tons. On the macroeconomic front, in the overseas market, the January non-seasonally adjusted CPI in the United States during the Spring Festival recorded 3.1%, down from the previous value of 3.4%; and the January PPI increased by 0.9% year-on-year, down from the previous value of 1%. In terms of spot fundamentals, due to the normal production of most primary lead enterprises and some secondary lead smelting enterprises during the Spring Festival, lead ingot inventory backlog has occurred.

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