Summary of lead morning meeting:
Futures disk:
Overnight, lun lead opened at $1628 / tonne, and in Asia, it swung upward, hitting a high of $1663 / tonne. Later, in Europe, lun lead weakened again and gave up its gains, eventually reporting an increase of $1643 / tonne, an increase of 0.4 per cent.
Spot fundamentals:
Before May 1, there were few goods in circulation in the spot market, and some of the quotations were pre-sold. Among them, Jinsha lead in Shanghai market quoted 380400 yuan / ton for lead 2005 contract in Shanghai, and southern lead in Wuxi market quoted 300-350 yuan / ton for lead 2005 contract in Shanghai. In the aspect of recycled lead, the quotation of waste battery fluctuates very little, except in Guizhou and Hubei, the market of recycled lead is generally traded, the discount of recycled lead containing tax is expanded, and the mood of stock preparation before the festival is not strong; the stock before the downstream festival is limited, the quotation of the holder is reduced slightly, and the transaction activity in the bulk market is not high.
Today's lead price forecast:
Lun lead trend is still in the downward channel, short-term prices are short, pay attention to the previous low support; according to the previous notice, the resumption of night trading from May 6;
SMM1# lead prices are expected to fall 50-100 yuan per tonne today.
