Lead Futures Plunge Amid Fed Rate Cut Skepticism, Boosting Social Inventories as Holders Jockey for Position Ahead of Delivery

Publicado: Sep 10, 2024 08:57
[SMM Lead Morning Meeting Summary: Lead Futures Continue to Decline, Downstream Players Remain Cautious, Holders Shift Inventories Leading to a Sharp Increase in Social Inventories] On the macro front, market traders have revised down their expectations for a significant interest rate cut by the Federal Reserve, and the US dollar index has been relatively strong... On the domestic fundamentals, with the continuous decline in lead prices, holders have significantly different attitudes towards selling, with situations of holding prices and reluctance to sell, waiting for delivery to warehouses, and fear of falling prices and selling off coexisting. Meanwhile, this week is the week before the delivery of the Shanghai Lead 2409 contract, and there has been an increase in holders shifting inventories for delivery to warehouses...

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[SMM Lead Morning Meeting Summary: Lead Futures Continue to Decline, D - Shanghai Metals Market (SMM)