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SunSirs: Shanghai Lead and London Lead mainly Fluctuate at Night

July 02 2020 09:35:40     SunSirs (Linda)

On June 30, the commodity price index BPI was 744 points, which was the same as June 29, a decrease of 26.99% from the highest point in the cycle of 1,019 points (2012-04-10), and an increase of 12.73% from the lowest point of 660 points on February 03, 2016. (Note: Period refers to 2011-12-01 to present).

The lead commodity index on June 30 was 89.27, which was the same as June 29, and was 33.39% lower than the highest point in the cycle of 134.01 (2016-11-29), and an increase of 19.62% from the lowest point of 74.63 on March 19, 2015. (Note: Period refers to 2011-09-01 to present).

On the fundamentals in New York, the US dollar index fell 0.08% to 97.3772; the offshore CNY rose 0.09% against the US dollar, and the USDCNH reported 7.0708; the Euro zone June consumer price index (annual rate) before the initial value: 0.1% expectation: 0.2% Actual: 0.3%; the central bank decided to reduce the re-loan and re-discount rates by 0.25%, after adjustment, the 3-month, 6-month, and 1-year agricultural support refinancing and small support refinancing rates are 1.95%, 2.15%, and 2.25%, respectively; Crude oil: U.S. Energy Information Administration (EIA): API crude oil inventory (10,000 barrels) before the week of June 26: 174.9, expected: -95 , announced: -815.6. Crude oil (as of 3 a.m. Beijing time on July 1st) spot Brent closed at 41.83 US dollars / barrel, up 0.44 US dollars from the previous trading day, an increase of 1.06%. Crude oil (as of 3 a.m. Beijing time on July 1st) WTI closed at 39.34 US dollars / barrel, a decrease of 0.47 US dollars from the previous trading day, a decrease of 1.18%. Affected by this, the London metal market rose and fell. Lun copper rose 1.17%, aluminum rose 0.31%, nickel rose 0.27%, tin fell 0.24%, zinc fell 0.88%, lead fell 1.06%, Shanghai metals mainly increased, copper rose 0.76%, aluminum rose 0.72%, lead rose 0.65%, tin rose 0.12%, zinc fell 0.6%, and nickel fell 0.84%.

The trend of LME lead: LME lead was opened at 1,796 US dollars / ton, the highest was 1,807 US dollars / ton, the lowest was 1,771 US dollars / ton, and finally reported at 1,778.5 US dollars / ton, a decrease of 1.06%.

The trend of Shanghai lead: Shanghai lead opened at 14,840 yuan/ton, the highest was 14,915 yuan/ton, and closed at 14,800 yuan, an increase of 0.65%.

Recently, the downstream demand for lead ingots has been weak, and the supply of recycled lead has gradually increased, further suppressing the primary lead market, with higher inventories. It is expected that the lead market in the future market will operate under pressure, with price consolidation mainly. After gradually entering the peak season of battery consumption in the later period, the supply and demand situation can be relieved to a certain extent.

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