On November 20, the Lead Commodity Index was 96.31, 0.3 points higher than that of yesterday, 28.13% lower than the peak of 134.01 in the cycle (Nov 29, 2016), and 29.05% higher than the lowest point of 74.63 (Mar 19, 2015). (Cycle: Sep 1, 2011 to date)
The U.S. dollar fell after a slight upward trend on November 20, with the index closing at 97.905, increasing 0.06%; the Federal Reserve cut interest rates at its October meeting and decided to suspend the easing cycle. Many members at the meeting thought that the downside risk of the economic outlook was very high, further highlighting in the reasons for the interest rate cut at this meeting. Most of the members at the meeting believed that after the interest rate cut of 25 basis points at this meeting, the policy position will be adjusted to a moderate state to support the economic prospect of moderate economic growth, strong employment market and inflation close to the 2% symmetric target of the Federal Reserve. At the end of the meeting, Fed chairman Powell hinted that the Fed was actually keeping interest rates unchanged and said it would not change this policy position unless there was a ‘substantial’ change in the US economic outlook. Crude oil: oil prices rose sharply, US oil rose 3.65% to $57.37 a barrel, setting a new high of the recent two days, the largest increase since January 1, as US crude oil inventory fell by the largest amount since recent months. Affected by these, metals in LME almost decreased, NID decreased nearly 2%, ZSD decreased nearly 1.5%, CAD and PBD decreased nearly 0.4%, AHD and SND increased nearly 0.4. Domestic metal market increased and decreased by half, NI decreased nearly 0.8%, ZN and SS decreased nearly 0.6%, RB and PB decreased nearly0.2%, CU increased slightly, SN increased nearly 0.4%, AL increased nearly 0.8%.
PBD trend: The opening price of PBD was $1,990 per ton. In Asian trading, PBD swung higher to $2,013 per ton, in European trading, PBD went high and then back to $1,972 per ton. The closing price was $1,985.5 per ton, decreasing $7.53 per ton (0.38%).
PB trend: The opening price of PB2001 was 15,675RMB/ton. It swung lower to 15,615RMB/ton at first, it then rebounded. The closing price was 15,655RMB/ton, decreasing 0.16%.
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