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Home / Metal News / SMM Lead Market Morning Comment (Jul 29)

SMM Lead Market Morning Comment (Jul 29)

Jul 29, 2024 09:41

Source:SMM

Last Friday, LME lead opened at $2,035/mt.

Last Friday, LME lead opened at $2,035/mt. During the Asian session, it consolidated around the intraday moving average. Entering the European session, LME lead fluctuated upward and reached a high of $2,083.5/mt. Before the close, it slightly declined and closed at $2,076/mt, up $40.5/mt, an increase of 1.99%.

Last Friday night, the most-traded SHFE 2409 lead contract opened at 18,665 yuan/mt. It initially declined to a low of 18,485 yuan/mt. Subsequently, it was boosted by the strengthening of LME lead and climbed to a high of 18,745 yuan/mt. After a slight consolidation, it closed at 18,725 yuan/mt, down 50 yuan/mt, a decrease of 0.27%.

Market review

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LME lead prices inched down and finally closed at $2103.5/mt in overnight trading, down $25.5/mt, or 1.2%. The contract fell for three consecutive days.

Aug 15, 2023 10:20

Industry

SMM Morning Comment For Tin Market On August 15

Overnight, SHFE 2309 tin contract price shook and fell sharply at the opening.

Aug 15, 2023 10:05

Industry

SMM Morning Comment For Tin Market On August 15

[SMM Zinc Morning Review] LME zinc prices posted three-day losing streak

LME zinc prices closed down $47/mt or 1.96% at $2,351/mt yesterday evening. The trading volume increased to 9,767 lots, and open interest increased 501 lots to 209,000 lots. LME zinc inventories increased by 375 mt to 92,175 mt, an increase of 0.41%. Overnight, the Fed's hawkish remarks bolstered the US dollar and that put pressure on LME zinc prices.

Aug 15, 2023 09:53

Industry

Social Lead Ingot Inventory Across Five Major Regions In China

According to SMM survey, social lead ingot inventory across five major regions in China totalled 50,800 mt as of July 31, up 5,200 mt from July 28 and 9,100 mt from July 24, the highest in four months.

Aug 14, 2023 14:34

Industry

China’s Indonesian NPI Production Review In July And Forecast In August

In July 2023, Indonesian NPI output was 119,400 mt in nickel content, a 2.65% MoM decrease and a 30.8% YoY increase.

Aug 11, 2023 19:04

Industry

China’s Indonesian NPI Production Review In July And Forecast In August

SMM Exclusive: China's Metals Output In July And Forecast For August

China's copper cathode output in July was 925,900 mt, an increase of 8,000 mt or 0.9% month-on-month, and a growth of 10.2% year-on-year; The output increased 23,800 mt compared with the expected 902,100 mt.

Aug 10, 2023 17:15

Industry

SMM Exclusive: China's Metals Output In July And Forecast For August

Data: SHFE, DCE market movement (Aug 10)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Aug 10, 2023

Aug 10, 2023 15:32

Analysis

Data: SHFE, DCE market movement (Aug 10)

[SMM Zinc Early Review July 20] LME zinc has delivered more than 20,000 tons of continuous warehouses, and the inventory has hit a high level in more than one year

Overnight, U.S. climate envoy Kerry held talks with Chinese officials, saying that China-U.S. climate relations still need “more work”; the IMF said that the appreciation of the dollar would hit emerging markets more than developed economies; China will announce July LPR on Thursday, and Reuters polls show that expectations for stability are unprecedentedly consistent; South Africa said that Russian President Vladimir Putin will not attend the BRICS summit in August.

Jul 20, 2023 10:44

Industry

[SMM Zinc Early Review July 20] LME zinc has delivered more than 20,000 tons of continuous warehouses, and the inventory has hit a high level in more than one year

[SMM Nickel Morning Meeting Minutes] Macro Boost Nickel Prices To The Upside, The Follow-Up Need To Pay Attention To The Fed's Interest Rate Decision

The U.S. Department of Labor announced that the annual rate of CPI in June fell from 4% in June to 3%, lower than the expected value of 3.1%, the reaction to the current U.S. inflation has eased, the market from the pessimistic expectations of the U.S. for two consecutive interest rate hikes to the year to raise interest rates by only 25 benchmark points.

Jul 14, 2023 10:26

Industry

[SMM Nickel Morning Meeting Minutes] Macro Boost Nickel Prices To The Upside, The Follow-Up Need To Pay Attention To The Fed's Interest Rate Decision

SMM Zinc Market Comment And Forecast (July 13)

LME zinc prices closed with gains overnight. LME zinc stocks fell 775 mt to 72,150 mt. The U.S. consumer price index (CPI) rose 3.0% year-on-year in June, the smallest year-on-year increase since March 2021, after rising 4% in May. As the Fed's interest rate hike expectations weakened, the U.S. dollar index dipped to a a-year low point.

Jul 13, 2023 11:08

Industry

SMM Zinc Market Comment And Forecast (July 13)

SMM Events & Webinars

All

Oct
29
- APAC TIN INDUSTRY CONFERENCE 2024
  Oct 29 - 30,2024
  Shenzhen·Guangdong·China
Nov
05
- APAC (9th) Stainless Steel Industry Conference 2024
  Nov 05 - 07,2024
  Fujian, China
Nov
24
- 2024 SMM Middle East Secondary Metal Filed Trip
  Nov 24 - Dec 01,2024
  UAE

SMM Lead Market Morning Comment (Jul 29)

SMM Events & Webinars

APAC TIN INDUSTRY CONFERENCE 2024

APAC (9th) Stainless Steel Industry Conference 2024

2024 SMM Middle East Secondary Metal Filed Trip