SMM Lead Market Update: Ingot Inventories Rise, Price Outlook Hinges on Pre-Holiday Inventory Build-up Amidst Global Monetary Policy Shifts

Publicado: Sep 23, 2024 08:39
[SMM Morning Lead Meeting Summary: Increased Accumulation of Lead Ingot Inventories, Subsequent Lead Price Movement to Focus on Expectations for Pre-National Day Inventory Preparation] China "did not cut interest rates," maintaining both the one-year and five-year Loan Prime Rates (LPR) unchanged in September. Fed Governor Christopher Waller stated that the faster-than-expected pace of inflation easing led him to join the camp advocating for a 50 basis point interest rate cut. On the fundamentals, the accumulation of lead ingot inventories both domestically and internationally intensified after the Mid-Autumn Festival holiday, while domestic downstream enterprises gradually resumed normal production. In the subsequent period, we need to focus on...

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