Publicado: Jun 21, 2024 08:55
【SMM Morning Meeting Summary of Lead: Overnight Lead Price Remained Stable at High Level, Social Inventory Turned from Rising to Falling, Narrowed Discount of Recycled Lead, and Weak Spot Trading Activity】 Macroscopically, overnight, the US dollar index rose by 0.40%. The retail sales data released this week performed flatly, and the labor market seemed to be weakening. On June 20th, the Ministry of Housing and Urban-Rural Development held a video conference on purchasing existing commercial housing stock for affordable housing. In terms of fundamentals, the delivery of Shanghai lead 2406 contract was completed this week, and the supply of goods in the trade market was tight. The social warehouse inventory of lead ingots turned from rising to falling. The impact of reduced production and shutdown of smelting enterprises in Anhui region expanded. After the loss situation of recycled lead smelters worsened, the quoted discount of recycled lead quickly narrowed to a discount of 50 yuan/ton to a premium of 100 yuan/ton, which has appeared to be inverted with the price of primary lead...

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【SMM Morning Meeting Summary of Lead: Overnight Lead Price Remained St - Shanghai Metals Market (SMM)