SunSirs: London Lead and Shanghai Lead Rise in Night Market

On October 28, the commodity price index BPI was 810 points, an increase of 1 point from October 27, a decrease of 20.51% from the highest point in the cycle of 1019 points (2012-04-10), and the lowest from February 03, 2016 660 points increased by 22.73%. (Note: The period refers to 2011-12-01 till now).

The lead commodity index on October 28 was 87.87, an increase of 0.08 points from yesterday, a decrease of 34.43% from the highest point in the cycle of 134.01 points (2016-11-29), and an increase of 17.74 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 rose 0.44% to 93.4498, a record high in more than a week; the offshore renminbi fell 0.22% against the U.S. dollar, and USDCNH reported 6.7284; major European countries saw new cases hit record highs, and France and Germany both launched stringent lockdown measures; the United States In September, the merchandise trade account deficit narrowed to 79.4 billion U.S. dollars, with an expected deficit of 84.5 billion U.S. dollars and a previous deficit of 82.9 billion U.S. dollars; crude oil prices: as of October 29, Brent spot closing at 3 a.m. Beijing time was 37.77 U.S. dollars per barrel, month-on-month. A trading day fell 2.24 US dollars, or 5.6%. WTI closed at US$37.72/barrel, down US$2.15 or 5.39% from the previous trading day. The LME outer metal market mostly declined. London copper fell 0.8%, London aluminum fell 0.52%, London zinc fell 0.18%, London nickel fell 1.16%, London tin fell 0.33%, and London lead rose 1.71%; domestic futures markets fell mainly. Shanghai copper fell 0.5%, Shanghai aluminum fell 0.9%, Shanghai zinc fell 0.86%, Shanghai lead rose 0.35%, Shanghai nickel fell 0.91%, Shanghai tin fell 0.51%, thread rose 0.52%, and stainless steel rose 0.35%.

LME lead trend: LME lead opened overnight at US$1,777.5/ton, mainly within a narrow range during the Asian session; during European time, LME lead broke through US$1800/ton, reaching a maximum of US$1813/ton, and closing at US$1,810/ton, up US$30.5/ton. An increase of 1.71%. 4,523 lots were traded.

Shanghai Lead Trend: The Shanghai Lead 2011 contract opened at 14400 yuan/ton in the recent month, and the post-market consolidation was the main focus. It closed at 14,460 yuan/ton, closing up 35 yuan/ton, an increase of 0.24%.

The Shanghai lead trend rose slightly, and the spot market price followed a small upward adjustment. Lead fundamentals were not ideal, the overall social inventory was high, and downstream consumption was limited. It is expected to maintain a volatile trend in the short term.

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