SunSirs: Shanghai Lead Closed up 0.91% on August 19
August 20 2021 08:03:56 SunSirs (Linda)
The U.S. dollar index hit a new high in nearly three months on Wednesday night. Although it closed basically flat, the international metal market generally fell last night, and lead did not rise slightly. The Shanghai lead oscillated slightly upwards in early trading today. As of August 19, the settlement price of the main contract of Shanghai Lead 2109 was 15,395 yuan/ton, an increase of 0.91%.
Boosted by the futures market, the domestic spot lead market 1# lead ingot quotation range is around 15,250-15350 yuan/ton, with an average price of 15,300 yuan/ton, an increase of 100 yuan/ton from the previous trading day. Prices have risen, the downstream inquiries into the market are less, the overall purchasing intention is still low, and the downstream maintains wait-and-see. On the whole, the downstream is gradually entering the peak season, but the market demand is still expected to be weak. The market outlook on the demand side may not be prosperous in the peak season, and the lead ingot inventory export cycle is long, and the inventory is difficult to quickly digest in the short term. At present, the overall domestic lead inventory is still high, and the overall downstream demand is mainly for purchase. In terms of market outlook, lead prices will continue to fluctuate mainly in the short term.
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