[may 14 SMM lead internal morning meeting record] downstream just need to purchase Shanghai lead accumulation bank is expected to strengthen

Summary of lead morning meeting:

Futures market:

Overnight, lun lead opened at $1601.5 / ton, Asia period, Lun lead narrow shock, the center of gravity around $1600, entered the European period, Lun lead low rebounded, high to $1624.5 / ton, finally reported at $1619 / ton, up 1.38%; Shanghai lead opened at 13800 yuan / ton, Shanghai lead fell to 13730 yuan / ton at the beginning of the session, and then recovered, closing low.

The decline was finally reported at 13830 yuan / ton, a decrease of 0.22 per cent.

Spot fundamentals:

Shanghai market Jinsha lead to Shanghai lead 2006 contract up 240-300 yuan / ton quotation, Wuxi market southern lead to Shanghai lead 2006 contract rose 200 yuan / ton quotation, future lead continued weak decline, coupled with part of the imported lead began to pre-sell, the holder price is not strong, the primary lead smelter to the exchange order; recycled lead, the price of waste battery is still easy to rise

Drop, including tax recycled lead discount continues to narrow signs, reported to the average price of SMM1# lead discount 150yuan / ton supply transaction is OK; downstream to maintain just the need to purchase, and mainly recycled lead, primary lead trading is relatively light, bulk market transaction has not been greatly improved.

Today's lead price forecast:

Lun lead low stabilized, short-term expected to shock market-based; Shanghai lead back to this position temporarily stabilized, but as this week began to accumulate, the overall price trend is expected to be weak.

SMM1# lead prices are expected to be flat to 50 yuan / ton today.