SunSirs: Shanghai Lead Closed down 1.61% on July 13
July 14 2021 08:30:58 SunSirs (Linda)
In early trading, the main Shanghai lead 2108 contract was greatly affected by inventory pressure after the opening, and the downward trend was mainly after the opening. As of the 13th, the settlement price of the main Shanghai lead 2108 contract was 15,735 yuan/ton, down 1.61%.
The domestic spot lead market 1# lead ingot quotation range is about 15450-15550 yuan/ton, dragged down by the futures market, with an average price of 15500 yuan/ton, down 100 yuan/ton from the previous trading day. This week, domestic social inventories are still mainly rising. The downstream is in the off-peak and peak season, but there is no significant improvement in the downstream, and the current demand is still limited. Today, there are some bargain hunting in the spot market, but the overall situation is still on the sidelines and on-demand procurement is the main focus. In a market where downstream demand has not yet improved, lead prices will continue to fluctuate in the short term.
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