[October 24 SMM lead Internal Morning meeting record] Storage Enterprise Inquiry increases Primary & Renewal maintenance discount shipment

Summary of lead morning meeting:

Macro:

It is reported that the US president said that the United States will lift sanctions against Turkey because of Turkey's compliance with the ceasefire agreement. The Turkish lira soared against the dollar in the short term, reaching 5.7299 lira on the refresh day, resulting in an overall increase of more than 1.3% during the day.

The premier presided over an executive meeting of the State Council to further do a good job in stabilizing foreign trade and promoting stable import and export quality. The meeting pointed out that since the beginning of this year, foreign trade has been operating smoothly on the whole, and at the same time, it is necessary to improve export tax rebates, trade financing, credit insurance, and other policies, and increase imports of agricultural products, consumer goods, equipment, and spare parts.

Fundamentals:

Shanghai period lead breaks downward, downstream intends to meet the demand bargain purchase, accumulates the enterprise inquiry to increase, the holder quotation is along with the market, the spot discount situation is basically consistent with yesterday, among them, the Shanghai market Jinsha, bathe, the southern lead to the 1911 contract discount 30-20 yuan / ton quotation, the white goods may discount 5040 yuan / ton, the primary lead refinery mostly to the long single, part of the loose order to the SMM1# lead average price discount 150-100 yuan / ton leaves the factory; Recycled lead deep sticking water remains unchanged, bulk market trading activity is relatively improved, but trading volume is still limited.

Lead price:

Lunlead closing Zhongyang line, continues to run in the uplink, 5, 10 EMA is still the lower limited support platform, Geneva lead may continue to try to break through 2225 US dollars / ton platform; Shanghai lead temporarily closed down the small yang line, the short-and medium-term moving average shows a downward trend, and the 5-and 10-day moving average forms a dead fork, but Brin Road down track 16584 yuan / ton there is a strong support, the expected Shanghai lead downward pace may slow down within days;

SMM1# lead prices are expected to fall 50 yuan per tonne today.