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Sunsirs: London Lead and Shanghai Lead Mainly Shocked at Night

June 24 2020 09:52:39     SunSirs (Linda)

On June 22, the commodity price index (BPI) was 747 points, unchanged from June 21, down 26.69% from 1,019 (2012-04-10), the highest point in the cycle, and up 13.18% from 660, the lowest point on February 3, 2016. (Note: cycle refers to 2011-12-01 to now).

On June 22, the lead commodity index was 88.89, up 0.68 points from June 21, down 33.67% from 134.01 (2016-11-29), and up 19.11% from 74.63, the lowest point on March 19, 2015. (Note: cycle refers to 2011-09-01 to now).

USD index fell 0.65% to 97.0517; offshore renminbi rose 0.27% against the US dollar, USDCNH reported 7.0581; Kudelo, US national economic adviser: there was no outbreak of second new wave of pneumonia in the United States, but there were some city with serious outbreaks; more measures to tackle the outbreak of new crown pneumonia will be put into effect by local governments, and second national blockades are not expected. Novel coronavirus pneumonia (CIC) announced monthly crude oil market report, which will maintain the same forecast for crude oil demand this year. However, due to the continuing economic impact of the new crown pneumonia epidemic, crude demand is expected to remain under pressure in the second half of this year. OPEC has maintained a forecast of global crude oil demand this year, and projected global oil demand by 9 million 70 thousand barrels per day in 2020. Affected by this, LME metal market mostly closed higher, with London copper up 1.46%, London aluminum up 0.95%, London zinc up 0.68%, London nickel down 0.86%, London tin up 0.18%, lunpb down 0.39%; domestic night market, Shanghai copper up 0.44%, Shanghai aluminum up 0.96%, Shanghai zinc up 0.68%, Shanghai lead down 0.41%, Shanghai nickel down 0.93%, Shanghai tin up 0.31%, screw down 0.72%, stainless steel down 0.15%.

London lead trend: LME lead opened at 1,783.5 US dollars / ton, with a maximum of 1,789 US dollars / ton and a minimum of 1,764 US dollars / ton, closing at 1,774.5 US dollars / ton, down 0.39%.

Shanghai lead trend: Shanghai lead opened at 14,525 yuan / ton, with a maximum of 14,645 yuan / ton, closing at 14,485 yuan / ton, down 0.41%.

In the near future, the inventory of lead continued to pick up, with a cumulative capacity of 17,000 tons. The weak terminal consumption did not improve. The peak season of regular demand is between the middle and late July to the middle and late August. It is expected that the spot lead market will fluctuate and weaken in the short term, and the situation of lead inventory still needs to be focused.

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