SunSirs: London Lead and Shanghai Lead Prices Rose in the Night Market

On December 23, the commodity price index BPI was 892 points, a decrease of 4 points from December 22, a decrease of 12.46% from the highest point in the cycle of 1019 points (2012-04-10), and the lowest from February 03, 2016 660 points increased by 35.15%. (Note: Period refers to 2011-12-01 till now).

The lead commodity index on December 23 was 87.22, a decrease of 0.46 points from December 22, a decrease of 34.92% from the cycle high of 134.01 points (2016-11-29), and a decrease of 34.92% from the lowest point of March 19, 2015. An increase of 16.87%. (Note: Period refers to 2011-09-01 to present).

In late New York trading, the U.S. dollar index rose 0.61% to 90.63, rising for three consecutive days, setting a new one-week high; offshore renminbi fell 0.1% against the U.S. dollar, and USDCNH reported 6.5410; the number of initial jobless claims in the United States until December 19 was 80.3 10,000 people, the first decline in three weeks, and is expected to be 885,000; U.S. durable goods orders in November increased by 0.9% month-on-month, an increase far better than expected; durable goods orders excluding transportation increased by 0.4% month-on-month, which was less than expected; Orders for non-defense capital materials excluding aircraft increased by 0.4% month-on-month, and the increase was also less than expected; data released by the Japan Work Machinery Industry Association showed that Japan’s November machine tool orders increased by 8.6% year-on-year to 88.6 billion yen. It exceeded US$85 billion for the first time since December 2019, and finally returned to the level before the spread of the new crown epidemic; crude oil prices: as of 3 am on December 24, Beijing time, spot Brent closed at US$51.27/barrel, up from the previous trading day US$0.975, an increase of 1.94%. WTI closed at $48.12/barrel, up $1.1 from the previous trading day, or 2.34%. Affected by this, the outer metal market rose across the board yesterday, with London Copper up 1.3%, London Zinc up 1.8%, London Aluminum up 0.4%, London Nickel up 1.45%, London Tin up 0.2%, and London Lead up 0.64%. In the domestic futures market, international copper and Shanghai copper rose 1.13%, Shanghai aluminum rose 0.8%, Shanghai lead rose 1.67%, Shanghai nickel rose 0.8%, Shanghai zinc rose 0.63%, and Shanghai tin rose 0.54%.

LME lead trend: LME non-ferrous metals rose across the board overnight. LME lead opened at US$1,960/ton, with a minimum of US$1951.5/ton, a maximum of US$1988.5/ton, and closing at US$1977/ton, an increase of US$17/ton, an increase of 0.87%; 2,591 lots were traded , The amount of open interest decreased by 1540 hands to 115,944 hands.

Shanghai lead trend: The main domestic night trading 2102 contract opened at 14465 yuan/ton and closed at 14605 yuan/ton, up 240 yuan/ton, or 1.67%. 27049 lots were traded, open interest increased by 2673 hands to 33898 hands, and capital inflows were 33.35 million yuan to 396 million yuan.

The fundamentals of the lead market were weak, and the downstream battery market performed weakly. Lead inventories remained amassed for the eighth consecutive week. Today, the spot market was boosted by futures and mainly went up.

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