SMM7 March 21: Xinguan Vaccine has made a major breakthrough and the United States is planning a new round of epidemic relief, while domestic A shares have soared again, boosting market confidence in the future economic recovery, and macro sentiment has improved, driving lead prices higher to a certain extent. Today, the 2009 contract of Shanghai lead once surged to 15075 yuan / ton, and as of today, it closed at 15075 yuan / ton, returning to the top of the five thousand five years, an increase of 2.13%.
From a fundamental point of view, primary lead, although accumulated last week, but due to cost reasons, refineries and traders more up-price shipments, refinery bulk orders basic reported to Shanghai lead 08 contract flat water to rise to 50 yuan / ton, warehouse receipt supply reported to rise to 50 million yuan / ton. As for recycled lead, due to the high cost of waste batteries, meagre profits or even losses of recycled lead smelters, and generally bullish on lead prices, recycled lead smelters tend to cherish sales, resulting in a tight supply of recycled lead. some of the demand downstream flows to electrolytic lead, boosting the price of lead to a certain extent.
On the consumer side, lead battery consumption is still not bright performance, dealers mainly to digest inventory, but today's spot, the downstream battery wholesale market trading activity is OK, follow-up attention to the substantial benefits brought by the peak consumption season.
SMM believes that lead costs support lead prices to stop falling and stabilize, while macroeconomic recovery expectations and lead consumption expectations further drive lead prices up. The peak consumption season for lead batteries in August is still expected, and the lead short selling power in Shanghai is not strong, and it is expected to continue to strengthen after consolidation in the short term.
Click to sign up for SMM 2020 (15th) lead and Zinc Summit
Scan the QR code in the picture to sign up for the lead-zinc summit and fill in the personal information on the last page. The meeting staff will contact you later!
![As importações de liga de chumbo em julho mostraram forte resiliência, enquanto a escala de importação de outros materiais de chumbo se contraiu fortemente [SMM Analysis]](https://imgqn.smm.cn/usercenter/yqTpQ20251217171721.jpeg)
