SunSirs--China Commodity Data Group

Member ID: password: Join Now!
Commodity News

Sunsirs: London Lead and Shanghai Lead Mainly Fluctuated at Night

July 07 2020 10:12:44     SunSirs (Linda)

On July 5, the commodity price index BPI was 746 points, up 2 points compared with July 4, 26.79% lower than the cycle high of 1,019 (April 10, 2012), and 13.03% higher than the lowest point of 660 on February 3, 2016. (Note: period refers to 2011-12-01 to now).

On July 5, the lead commodity index was 90.19, flat with July 4, down 32.70% from 134.01 (2016-11-29), and 20.85% higher than the lowest point of 74.63 on March 19, 2015. (Note: period refers to 2011-09-01 to now).

The US dollar index fell 0.03% to 97.1846; offshore RMB fell 0.02% against the US dollar and USDCNH was at 7.0687; Goldman Sachs lowered its U.S. GDP forecast to shrink by 4.6% in 2020, previously expected to shrink by 4.2%; the U.S. economy is expected to grow by 5.8% next year, and the unemployment rate is expected to reach 9% by the end of this year, which is lower than the previous 9.5% expectation. According to the data of Russian energy ministry, Russia's oil production in June was predicted 9.323 million barrels / day, down 16.5% year-on-year and 0.8% month on month; crude oil market: the spot Brent of crude oil (as of 3:00 a.m. on July 4, Beijing time) closed at $43.145/barrel, up $0.025 or 0.06% month on month compared with the previous trading day. Last Friday was a holiday in the United States and WTI oil prices were not available. Affected by this, LME market was up and down, with copper down 1.29%, aluminum down 0.74%, zinc down 0.42%, nickel up 0.43%, tin up 0.18%, and lead up 0.71%. In the Chinese futures market, Shanghai copper fell 0.59%, Shanghai aluminum rose 0.43%, Shanghai zinc fell 0.18%, Shanghai lead fell 0.71%, Shanghai nickel rose 0.49%, Shanghai tin rose 0.43%, thread rose 0.44%, stainless steel fell 0.26%.

The trend of London lead: the opening price of London lead was 1,774.5 USD / T, the lowest was 1,763.5 USD / T, the highest was 1,788 USD / T, and the final price was 1,785 USD / T, with an increase of 0.71%.

The trend of Shanghai lead: the opening price was 14,705 yuan/ton, the lowest one was 13,565 and the closing price was 14,585, a decrease of 0.71%.

The social inventory of lead is on the high side in the near future, the demand for downstream consumption in the off-season is limited in the near future, the capacity of renewable lead is released, a large amount of imported lead flows in, and the inventory is high. It is expected that the spot lead market will be dominated by weak consolidation in the near future.

If you have any questions, please feel free to contact SunSirs with

Rubber & plastics
Non-ferrous metals
Building materials
Agricultural & sideline products