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SunSirs: LME Lead Falls Mainly in the Night Trading
October 27 2020 09:21:08SunSirs(Linda)

On October 25, the BPI of the Commodity Price Index was 808 points, which was the same as on October 24. It was a decrease of 20.71% from the highest point in the cycle of 1019 points (2012-04-10) and 660 points from the lowest point on February 3, 2016. An increase of 22.42%. (Note: Period refers to 2011-12-01 till now).

The lead commodity index on October 25 was 88.78, which was the same as yesterday, a decrease of 33.75% from the highest point in the cycle of 134.01 points (2016-11-29), and an increase of 18.96% from the lowest point of 74.63 points on March 19, 2015. (Note: Period refers to 2011-09-01 to present).

In late New York trading, the U.S. dollar index fell 0.22% to 92.7367, down 1.03% this week; offshore renminbi rose 0.06% against the U.S. dollar, and USDCNH reported 6.6668; six ministries and commissions including the National Development and Reform Commission, the Ministry of Industry and Information Technology, and the Ministry of Science and Technology issued documents to support private enterprises in accelerating reform, development, and transformation. Requiring continued tax cuts and fee reductions, and increased credit support for private enterprises; The Fifth Plenary Session of the Nineteenth Central Committee was held behind closed doors on Monday, and issues such as the '14th Five-Year Plan' and'dual cycle' have attracted attention; (As of 3 a.m. Beijing time on October 24th, spot Brent closed at $41.235/barrel, down $0.28 from the previous trading day, or 0.67%; WTI closed at $39.85/barrel, down $0.79 from the previous trading day, A decline of 1.94%. Affected by this, the LME outer metal market was green across the board, with LME copper falling 0.48%, LME aluminum falling 0.30%, LME zinc falling 0.74%, LME nickel falling 1.23%, LME tin falling 1.21%, and LME lead falling 0.84% ; The domestic metal futures market generally fell. Shanghai copper fell 0.42%, Shanghai aluminum rose 0.17%, Shanghai zinc fell 0.73%, Shanghai lead fell 1.00%, Shanghai nickel fell 1.04%, Shanghai tin fell 1.12%, thread fell 1.3%, stainless steel Fell 1.47%.

The trend of LME lead: the opening price of LME lead was $1,796/ton, the highest was $1,811.5/ton, the lowest was $1768/ton, and the closing price was $1,779.5/ton, down US$15/ton or 0.84%. Open interest increased by 490 hands to 111,202 hands.

The trend of Shanghai lead: During the domestic night trading hours, the Shanghai Lead 2011 contract opened at 14,590 yuan/ton, the lowest was 14,280 yuan/ton, and closed at 14,345 yuan/ton, down 145 yuan/ton, a decrease of 1.00%. 12,543 lots were traded, and open interest increased by 318 hands to 16,955 hands.

The fundamentals of the spot lead market are unsatisfactory. This year's supply is relatively sufficient compared to previous years. The peak season consumption is gradually coming to an end, downstream consumption is fading, and the international market is mainly under pressure on metals.

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