[summary of SMM Morning meeting] Lun lead concussion downstream is afraid of height and careful mining.

āđ€āļœāļĒāđāļžāļĢāđˆāđāļĨāđ‰āļ§: May 28, 2020 09:33

Summary of lead Morning meeting:

Futures market:

Lun lead opened at 1674.5 US dollars / ton. In the Asian session, lead and zinc fluctuated downwards together, entering the European period, Lun lead continued to weaken, and then phased upward revision. However, the 5-day moving average was suppressed, Lun lead fell again to 1626 US dollars / ton, and in late trading, the outer disk nonferrous collectively rose, and Lun lead went up, finally trading at 1642 US dollars / ton, down 32 US dollars / ton, or 1.91 per cent (bearish).

Shanghai lead opened at 14260 US dollars / ton. At the beginning of the session, Shanghai lead moved along the daily average line, and then the non-ferrous metal co-vibration weakened. The Shanghai lead operating platform moved down to 14210 yuan / ton. Near the close, driven by the strengthening of the outer disk, Shanghai lead rose back to 14275 yuan / ton, down 95 yuan / ton, down 0.66% (bearish).

 

Spot fundamentals:

Shanghai Changchi Honglead quoted price of 200 yuan / ton for Shanghai lead 2006 contract and 100 yuan / ton price for Shanghai lead 2006 contract in Wuxi market. In addition, imported KZ lead quoted price for Shanghai lead 2006 contract Pingshui. Lead futures continue a strong trend, the holder accompanied by quotation, original lead smelter supply, Jinli to SMM1# lead average price discount 50 yuan / ton to flat water quotation; Wanyang to SMM1# lead average price flat quotation, refinery single transaction downturn, mainly to long single trading, recycled lead, recycled lead enterprises are willing to raise the procurement price of waste batteries is low, including tax recycled lead market discount range is difficult to collect, downstream fear of high and cautious procurement, light market trading. (bad news).

Lead price forecast today:

It seems that the support platform formed by the 10-and 20-day moving average is about to fail, and the Geneva lead may continue to be revised downwards; the Shanghai lead newspaper has the lower shadow of the Xiaoyang line, and the long and short sides are entangled at the 5-day moving average, and the trend of the 5-day moving average slows down. pay attention to the support of the 5-day moving average within the day.

It is expected that today's SMM1# lead price will fall by 75 RMB125 / ton.

āļ„āļģāļŠāļĩāđ‰āđāļˆāļ‡āđāļŦāļĨāđˆāļ‡āļ—āļĩāđˆāļĄāļēāļ‚āļ­āļ‡āļ‚āđ‰āļ­āļĄāļđāļĨ: āļ™āļ­āļāļˆāļēāļāļ‚āđ‰āļ­āļĄāļđāļĨāļ—āļĩāđˆāđ€āļ›āļīāļ”āđ€āļœāļĒāļ•āđˆāļ­āļŠāļēāļ˜āļēāļĢāļ“āļ°āđāļĨāđ‰āļ§ āļ‚āđ‰āļ­āļĄāļđāļĨāļ­āļ·āđˆāļ™āđ† āļ—āļąāđ‰āļ‡āļŦāļĄāļ”āđ„āļ”āđ‰āļĢāļąāļšāļāļēāļĢāļ›āļĢāļ°āļĄāļ§āļĨāļœāļĨāđ‚āļ”āļĒ SMM āļˆāļēāļāļ‚āđ‰āļ­āļĄāļđāļĨāļŠāļēāļ˜āļēāļĢāļ“āļ° āļāļēāļĢāļŠāļ·āđˆāļ­āļŠāļēāļĢāļāļąāļšāļ•āļĨāļēāļ” āđāļĨāļ°āļāļēāļĢāļžāļķāđˆāļ‡āļžāļēāđāļšāļšāļˆāļģāļĨāļ­āļ‡āļāļēāļ™āļ‚āđ‰āļ­āļĄāļđāļĨāļ āļēāļĒāđƒāļ™āļ‚āļ­āļ‡ SMMāļ‚āđ‰āļ­āļĄāļđāļĨāđ€āļŦāļĨāđˆāļēāļ™āļĩāđ‰āļĄāļĩāđ„āļ§āđ‰āđ€āļžāļ·āđˆāļ­āļ­āđ‰āļēāļ‡āļ­āļīāļ‡āđ€āļ—āđˆāļēāļ™āļąāđ‰āļ™ āđ„āļĄāđˆāļ–āļ·āļ­āđ€āļ›āđ‡āļ™āļ‚āđ‰āļ­āđ€āļŠāļ™āļ­āđāļ™āļ°āđƒāļ™āļāļēāļĢāļ•āļąāļ”āļŠāļīāļ™āđƒāļˆ

āļŦāļēāļāļĄāļĩāļ‚āđ‰āļ­āļŠāļ‡āļŠāļąāļĒāļŦāļĢāļ·āļ­āļ•āđ‰āļ­āļ‡āļāļēāļĢāļ—āļĢāļēāļšāļ‚āđ‰āļ­āļĄāļđāļĨāđ€āļžāļīāđˆāļĄāđ€āļ•āļīāļĄ āļāļĢāļļāļ“āļēāļ•āļīāļ”āļ•āđˆāļ­: lemonzhao@smm.cn
āļŦāļēāļāļ•āđ‰āļ­āļ‡āļāļēāļĢāļ‚āđ‰āļ­āļĄāļđāļĨāđ€āļžāļīāđˆāļĄāđ€āļ•āļīāļĄāđ€āļāļĩāđˆāļĒāļ§āļāļąāļšāļ§āļīāļ˜āļĩāļāļēāļĢāđ€āļ‚āđ‰āļēāļ–āļķāļ‡āļĢāļēāļĒāļ‡āļēāļ™āļāļēāļĢāļ§āļīāļˆāļąāļĒāļ‚āļ­āļ‡āđ€āļĢāļē āđ‚āļ›āļĢāļ”āļ•āļīāļ”āļ•āđˆāļ­:service.en@smm.cn
āļ‚āđˆāļēāļ§āļ—āļĩāđˆāđ€āļāļĩāđˆāļĒāļ§āļ‚āđ‰āļ­āļ‡
āļŠāļĢāļļāļ›āļ˜āļļāļĢāļāļĢāļĢāļĄāļ•āļĨāļēāļ”āđ€āļĻāļĐāđāļšāļ•āđ€āļ•āļ­āļĢāļĩāđˆāļ›āļĢāļ°āļˆāļģāļ§āļąāļ™āļ—āļĩāđˆ 24 āļŠāļīāļ‡āļŦāļēāļ„āļĄ [SMM Daily Review]
35 āļ™āļēāļ—āļĩāļ—āļĩāđˆāđāļĨāđ‰āļ§
āļŠāļĢāļļāļ›āļ˜āļļāļĢāļāļĢāļĢāļĄāļ•āļĨāļēāļ”āđ€āļĻāļĐāđāļšāļ•āđ€āļ•āļ­āļĢāļĩāđˆāļ›āļĢāļ°āļˆāļģāļ§āļąāļ™āļ—āļĩāđˆ 24 āļŠāļīāļ‡āļŦāļēāļ„āļĄ [SMM Daily Review]
āļ­āđˆāļēāļ™āđ€āļžāļīāđˆāļĄāđ€āļ•āļīāļĄ
āļŠāļĢāļļāļ›āļ˜āļļāļĢāļāļĢāļĢāļĄāļ•āļĨāļēāļ”āđ€āļĻāļĐāđāļšāļ•āđ€āļ•āļ­āļĢāļĩāđˆāļ›āļĢāļ°āļˆāļģāļ§āļąāļ™āļ—āļĩāđˆ 24 āļŠāļīāļ‡āļŦāļēāļ„āļĄ [SMM Daily Review]
āļŠāļĢāļļāļ›āļ˜āļļāļĢāļāļĢāļĢāļĄāļ•āļĨāļēāļ”āđ€āļĻāļĐāđāļšāļ•āđ€āļ•āļ­āļĢāļĩāđˆāļ›āļĢāļ°āļˆāļģāļ§āļąāļ™āļ—āļĩāđˆ 24 āļŠāļīāļ‡āļŦāļēāļ„āļĄ [SMM Daily Review]
35 āļ™āļēāļ—āļĩāļ—āļĩāđˆāđāļĨāđ‰āļ§
āļ•āļ°āļāļąāđˆāļ§āļĢāļĩāđ„āļ‹āđ€āļ„āļīāļĨ: āļ„āļ§āļēāļĄāđ€āļŠāļ·āđˆāļ­āļĄāļąāđˆāļ™āđ€āļŠāļīāļ‡āļšāļ§āļāļ‚āļ­āļ‡āļœāļđāđ‰āļˆāļąāļ”āļˆāļģāļŦāļ™āđˆāļēāļĒāđāļ‚āđ‡āļ‡āđāļāļĢāđˆāļ‡ āļāļēāļĢāļ”āļķāļ‡āļāļąāļ™āļĢāļ°āļŦāļ§āđˆāļēāļ‡āļ•āđ‰āļ™āļ™āđ‰āļģāđāļĨāļ°āļ›āļĨāļēāļĒāļ™āđ‰āļģāļŠāļģāļŦāļĢāļąāļšāļ•āļ°āļāļąāđˆāļ§āļšāļĢāļīāļŠāļļāļ—āļ˜āļīāđŒāļĢāļĩāđ„āļ‹āđ€āļ„āļīāļĨāļ—āļ§āļĩāļ„āļ§āļēāļĄāļĢāļļāļ™āđāļĢāļ‡āļ‚āļķāđ‰āļ™ [SMM Lead Daily Review]
1 āļŠāļąāđˆāļ§āđ‚āļĄāļ‡āļ—āļĩāđˆāđāļĨāđ‰āļ§
āļ•āļ°āļāļąāđˆāļ§āļĢāļĩāđ„āļ‹āđ€āļ„āļīāļĨ: āļ„āļ§āļēāļĄāđ€āļŠāļ·āđˆāļ­āļĄāļąāđˆāļ™āđ€āļŠāļīāļ‡āļšāļ§āļāļ‚āļ­āļ‡āļœāļđāđ‰āļˆāļąāļ”āļˆāļģāļŦāļ™āđˆāļēāļĒāđāļ‚āđ‡āļ‡āđāļāļĢāđˆāļ‡ āļāļēāļĢāļ”āļķāļ‡āļāļąāļ™āļĢāļ°āļŦāļ§āđˆāļēāļ‡āļ•āđ‰āļ™āļ™āđ‰āļģāđāļĨāļ°āļ›āļĨāļēāļĒāļ™āđ‰āļģāļŠāļģāļŦāļĢāļąāļšāļ•āļ°āļāļąāđˆāļ§āļšāļĢāļīāļŠāļļāļ—āļ˜āļīāđŒāļĢāļĩāđ„āļ‹āđ€āļ„āļīāļĨāļ—āļ§āļĩāļ„āļ§āļēāļĄāļĢāļļāļ™āđāļĢāļ‡āļ‚āļķāđ‰āļ™ [SMM Lead Daily Review]
āļ­āđˆāļēāļ™āđ€āļžāļīāđˆāļĄāđ€āļ•āļīāļĄ
āļ•āļ°āļāļąāđˆāļ§āļĢāļĩāđ„āļ‹āđ€āļ„āļīāļĨ: āļ„āļ§āļēāļĄāđ€āļŠāļ·āđˆāļ­āļĄāļąāđˆāļ™āđ€āļŠāļīāļ‡āļšāļ§āļāļ‚āļ­āļ‡āļœāļđāđ‰āļˆāļąāļ”āļˆāļģāļŦāļ™āđˆāļēāļĒāđāļ‚āđ‡āļ‡āđāļāļĢāđˆāļ‡ āļāļēāļĢāļ”āļķāļ‡āļāļąāļ™āļĢāļ°āļŦāļ§āđˆāļēāļ‡āļ•āđ‰āļ™āļ™āđ‰āļģāđāļĨāļ°āļ›āļĨāļēāļĒāļ™āđ‰āļģāļŠāļģāļŦāļĢāļąāļšāļ•āļ°āļāļąāđˆāļ§āļšāļĢāļīāļŠāļļāļ—āļ˜āļīāđŒāļĢāļĩāđ„āļ‹āđ€āļ„āļīāļĨāļ—āļ§āļĩāļ„āļ§āļēāļĄāļĢāļļāļ™āđāļĢāļ‡āļ‚āļķāđ‰āļ™ [SMM Lead Daily Review]
āļ•āļ°āļāļąāđˆāļ§āļĢāļĩāđ„āļ‹āđ€āļ„āļīāļĨ: āļ„āļ§āļēāļĄāđ€āļŠāļ·āđˆāļ­āļĄāļąāđˆāļ™āđ€āļŠāļīāļ‡āļšāļ§āļāļ‚āļ­āļ‡āļœāļđāđ‰āļˆāļąāļ”āļˆāļģāļŦāļ™āđˆāļēāļĒāđāļ‚āđ‡āļ‡āđāļāļĢāđˆāļ‡ āļāļēāļĢāļ”āļķāļ‡āļāļąāļ™āļĢāļ°āļŦāļ§āđˆāļēāļ‡āļ•āđ‰āļ™āļ™āđ‰āļģāđāļĨāļ°āļ›āļĨāļēāļĒāļ™āđ‰āļģāļŠāļģāļŦāļĢāļąāļšāļ•āļ°āļāļąāđˆāļ§āļšāļĢāļīāļŠāļļāļ—āļ˜āļīāđŒāļĢāļĩāđ„āļ‹āđ€āļ„āļīāļĨāļ—āļ§āļĩāļ„āļ§āļēāļĄāļĢāļļāļ™āđāļĢāļ‡āļ‚āļķāđ‰āļ™ [SMM Lead Daily Review]
1 āļŠāļąāđˆāļ§āđ‚āļĄāļ‡āļ—āļĩāđˆāđāļĨāđ‰āļ§
Zijin Mining āļ„āļĢāļķāđˆāļ‡āļ›āļĩāđāļĢāļ 2026: āļœāļĨāļœāļĨāļīāļ•āļŠāļąāļ‡āļāļ°āļŠāļĩāļĨāļ”āļĨāļ‡ āļ•āļ°āļāļąāđˆāļ§āđ€āļžāļīāđˆāļĄāļ‚āļķāđ‰āļ™ āļŠāļąāļ‡āļāļ°āļŠāļĩāļšāļĢāļīāļŠāļļāļ—āļ˜āļīāđŒāļĨāļ”āļĨāļ‡
3 āļŠāļąāđˆāļ§āđ‚āļĄāļ‡āļ—āļĩāđˆāđāļĨāđ‰āļ§
Zijin Mining āļ„āļĢāļķāđˆāļ‡āļ›āļĩāđāļĢāļ 2026: āļœāļĨāļœāļĨāļīāļ•āļŠāļąāļ‡āļāļ°āļŠāļĩāļĨāļ”āļĨāļ‡ āļ•āļ°āļāļąāđˆāļ§āđ€āļžāļīāđˆāļĄāļ‚āļķāđ‰āļ™ āļŠāļąāļ‡āļāļ°āļŠāļĩāļšāļĢāļīāļŠāļļāļ—āļ˜āļīāđŒāļĨāļ”āļĨāļ‡
āļ­āđˆāļēāļ™āđ€āļžāļīāđˆāļĄāđ€āļ•āļīāļĄ
Zijin Mining āļ„āļĢāļķāđˆāļ‡āļ›āļĩāđāļĢāļ 2026: āļœāļĨāļœāļĨāļīāļ•āļŠāļąāļ‡āļāļ°āļŠāļĩāļĨāļ”āļĨāļ‡ āļ•āļ°āļāļąāđˆāļ§āđ€āļžāļīāđˆāļĄāļ‚āļķāđ‰āļ™ āļŠāļąāļ‡āļāļ°āļŠāļĩāļšāļĢāļīāļŠāļļāļ—āļ˜āļīāđŒāļĨāļ”āļĨāļ‡
Zijin Mining āļ„āļĢāļķāđˆāļ‡āļ›āļĩāđāļĢāļ 2026: āļœāļĨāļœāļĨāļīāļ•āļŠāļąāļ‡āļāļ°āļŠāļĩāļĨāļ”āļĨāļ‡ āļ•āļ°āļāļąāđˆāļ§āđ€āļžāļīāđˆāļĄāļ‚āļķāđ‰āļ™ āļŠāļąāļ‡āļāļ°āļŠāļĩāļšāļĢāļīāļŠāļļāļ—āļ˜āļīāđŒāļĨāļ”āļĨāļ‡
āđ€āļĄāļ·āđˆāļ­āđ€āļĢāđ‡āļ§āđ† āļ™āļĩāđ‰ āļ‹āļĩāļˆāļīāđ‰āļ™āđ„āļĄāļ™āļīāđˆāļ‡ (Zijin Mining) āđ„āļ”āđ‰āļĢāļēāļĒāļ‡āļēāļ™āļœāļĨāļ›āļĢāļ°āļāļ­āļšāļāļēāļĢāļ„āļĢāļķāđˆāļ‡āļ›āļĩāđāļĢāļāļ‚āļ­āļ‡āļ›āļĩ 2026 (H1 2026) āđƒāļ™āļŠāđˆāļ§āļ‡āļĢāļ°āļĒāļ°āđ€āļ§āļĨāļēāļ—āļĩāđˆāļĢāļēāļĒāļ‡āļēāļ™ āļ›āļĢāļīāļĄāļēāļ“āļŠāļąāļ‡āļāļ°āļŠāļĩāđƒāļ™āļŦāļąāļ§āđāļĢāđ‰āļ‡āļŠāļąāļ‡āļāļ°āļŠāļĩāļ—āļĩāđˆāļœāļĨāļīāļ•āļˆāļēāļāđ€āļŦāļĄāļ·āļ­āļ‡āļ‚āļ­āļ‡āļšāļĢāļīāļĐāļąāļ—āļĄāļĩāļˆāļģāļ™āļ§āļ™āļ—āļąāđ‰āļ‡āļŠāļīāđ‰āļ™ 176,922 āļ•āļąāļ™ āļĨāļ”āļĨāļ‡ 1.5% āđ€āļĄāļ·āđˆāļ­āđ€āļ—āļĩāļĒāļšāļāļąāļšāļŠāđˆāļ§āļ‡āđ€āļ”āļĩāļĒāļ§āļāļąāļ™āļ‚āļ­āļ‡āļ›āļĩāļāđˆāļ­āļ™ āđƒāļ™āļ‚āļ“āļ°āļ—āļĩāđˆāļ›āļĢāļīāļĄāļēāļ“āļ•āļ°āļāļąāđˆāļ§āđƒāļ™āļŦāļąāļ§āđāļĢāđ‰āļ‡āļ•āļ°āļāļąāđˆāļ§āļ­āļĒāļđāđˆāļ—āļĩāđˆ 21,636 āļ•āļąāļ™ āđ€āļžāļīāđˆāļĄāļ‚āļķāđ‰āļ™ 5.5% āđ€āļĄāļ·āđˆāļ­āđ€āļ—āļĩāļĒāļšāļ›āļĩāļ•āđˆāļ­āļ›āļĩ āļ›āļĢāļīāļĄāļēāļ“āļāļēāļĢāļœāļĨāļīāļ•āļŠāļąāļ‡āļāļ°āļŠāļĩāļšāļĢāļīāļŠāļļāļ—āļ˜āļīāđŒāļ­āļĒāļđāđˆāļ—āļĩāđˆ 183,761 āļ•āļąāļ™ āļĨāļ”āļĨāļ‡ 10.0% āđ€āļĄāļ·āđˆāļ­āđ€āļ—āļĩāļĒāļšāļ›āļĩāļ•āđˆāļ­āļ›āļĩ āļĒāļ­āļ”āļ‚āļēāļĒāļ˜āļļāļĢāļāļīāļˆāļŠāļąāļ‡āļāļ°āļŠāļĩāđāļĨāļ°āļ•āļ°āļāļąāđˆāļ§āļ„āļīāļ”āđ€āļ›āđ‡āļ™ 3.0% āļ‚āļ­āļ‡āļĢāļēāļĒāđ„āļ”āđ‰āļˆāļēāļāļāļēāļĢāļ”āļģāđ€āļ™āļīāļ™āļ‡āļēāļ™āļ—āļąāđ‰āļ‡āļŦāļĄāļ”āļŦāļĨāļąāļ‡āļˆāļēāļāļŦāļąāļāļĢāļēāļĒāļāļēāļĢāļĢāļ°āļŦāļ§āđˆāļēāļ‡āļāļąāļ™ āđƒāļ™āļ‚āļ“āļ°āļ—āļĩāđˆāļāļģāđ„āļĢāļ‚āļąāđ‰āļ™āļ•āđ‰āļ™āļˆāļēāļāļ˜āļļāļĢāļāļīāļˆāļ™āļĩāđ‰āļ„āļīāļ”āđ€āļ›āđ‡āļ™ 1.7% āļ‚āļ­āļ‡āļāļģāđ„āļĢāļ‚āļąāđ‰āļ™āļ•āđ‰āļ™āļĢāļ§āļĄāļ‚āļ­āļ‡āļāļĨāļļāđˆāļĄāļšāļĢāļīāļĐāļąāļ—
3 āļŠāļąāđˆāļ§āđ‚āļĄāļ‡āļ—āļĩāđˆāđāļĨāđ‰āļ§
āļ‚āđˆāļēāļ§āļ—āļĩāđˆāđ€āļāļĩāđˆāļĒāļ§āļ‚āđ‰āļ­āļ‡
news
āļŠāļĢāļļāļ›āļ˜āļļāļĢāļāļĢāļĢāļĄāļ•āļĨāļēāļ”āđ€āļĻāļĐāđāļšāļ•āđ€āļ•āļ­āļĢāļĩāđˆāļ›āļĢāļ°āļˆāļģāļ§āļąāļ™āļ—āļĩāđˆ 24 āļŠāļīāļ‡āļŦāļēāļ„āļĄ [SMM Daily Review]
Aug 24, 2026 14:49
news
āļ•āļ°āļāļąāđˆāļ§āļĢāļĩāđ„āļ‹āđ€āļ„āļīāļĨ: āļ„āļ§āļēāļĄāđ€āļŠāļ·āđˆāļ­āļĄāļąāđˆāļ™āđ€āļŠāļīāļ‡āļšāļ§āļāļ‚āļ­āļ‡āļœāļđāđ‰āļˆāļąāļ”āļˆāļģāļŦāļ™āđˆāļēāļĒāđāļ‚āđ‡āļ‡āđāļāļĢāđˆāļ‡ āļāļēāļĢāļ”āļķāļ‡āļāļąāļ™āļĢāļ°āļŦāļ§āđˆāļēāļ‡āļ•āđ‰āļ™āļ™āđ‰āļģāđāļĨāļ°āļ›āļĨāļēāļĒāļ™āđ‰āļģāļŠāļģāļŦāļĢāļąāļšāļ•āļ°āļāļąāđˆāļ§āļšāļĢāļīāļŠāļļāļ—āļ˜āļīāđŒāļĢāļĩāđ„āļ‹āđ€āļ„āļīāļĨāļ—āļ§āļĩāļ„āļ§āļēāļĄāļĢāļļāļ™āđāļĢāļ‡āļ‚āļķāđ‰āļ™ [SMM Lead Daily Review]
Aug 24, 2026 14:17
news
Zijin Mining āļ„āļĢāļķāđˆāļ‡āļ›āļĩāđāļĢāļ 2026: āļœāļĨāļœāļĨāļīāļ•āļŠāļąāļ‡āļāļ°āļŠāļĩāļĨāļ”āļĨāļ‡ āļ•āļ°āļāļąāđˆāļ§āđ€āļžāļīāđˆāļĄāļ‚āļķāđ‰āļ™ āļŠāļąāļ‡āļāļ°āļŠāļĩāļšāļĢāļīāļŠāļļāļ—āļ˜āļīāđŒāļĨāļ”āļĨāļ‡
Aug 24, 2026 11:53
news
āļŦāļĒāļīāļ‡āļ–āļēāļ™ āļ„āļ­āļ›āđ€āļ›āļ­āļĢāđŒ āļ­āļīāļ™āđ€āļ§āļŠāļ•āđŒāđ€āļĄāļ™āļ•āđŒ SME 2026 āđ€āļ‹āļĩāđˆāļĒāļ‡āđ„āļŪāđ‰ āđ€āļĄāļ—āļąāļĨāļŠāđŒ āļ§āļĩāļ„
Aug 24, 2026 10:52
[summary of SMM Morning meeting] Lun lead concussion downstream is afraid of height and careful mining. - Shanghai Metals Market (SMM)