1. Price Trend
The lead market (Apr. 13-17) fluctuated upward last week. The average domestic market price was 14,000 yuan / ton at the beginning of the week and 14,050 yuan / ton at the weekend, a weekly increase of 0.36%.
The lead commodity index on April 19 was 85.51, which was the same as April 18, and was 36.19% lower than the highest point in the cycle, 134.01 (2016-November-29), and 14.58% higher than the lowest point of 74.63 on March 19, 2015. (Note: The period refers to 2011-Spetember-01 to present).
2. Market Analysis
Chinese market: Last week's LME lead volatility is the main shock, closed on Monday, and rose and fell on Tuesday, the lowest to 1,750 US dollars / ton, as of last Friday, the price was 1,698 US dollars / ton. The main contract of Shanghai Lead changed from 2004 to 2005, and the overall trend was to go down. The high level was once measured to 13,945 yuan / ton, and the low level was down to 13,585 yuan / ton. As of Friday, Shanghai Lead reported at 13,720 yuan / ton. The spot market price was 14,150-14,450 yuan / ton. Last week's spot lead was basically stable. Market brand lead was concentrated in Shanghai Jinsha, Southern, Henan Jinli, Yuguang and other brand lead. There are few scattered orders transactions, and transactions are still mainly based on long order transactions.
Industry: Base metals rose under the stimulus of a lot of information. At the beginning of the week, OPEC + oil-producing countries reached a historic production reduction agreement. Subsequently, various European and American countries have successively issued various plans to restart the economy to boost market confidence. Economic data show that the economy has gone out of a clear upward trend from last month, and the central bank has implemented targeted RRR cuts and other measures for small and medium-sized banks.
According to SunSirs price monitoring, in the 15th week of 2020 (Aprl.13-17), there were 10 kinds of commodities in the mon-ferrous plates in the commodity price increase and decrease list. The top three increasing commodities were zinc (2.63%) and aluminum (1.75%), Tin (1.71%). There were 7 kinds of commodities that fell sequentially, and the top 3 products were titanium concentrate (-3.28%), neodymium metal (-1.39%), and silicon metal (-1.21%). Lat week's average increase or decrease was 0.12%.
3. Outlook
Most of the basic metal market last week was supported by long-term transactions. The spot will maintain a certain degree of activity and firmness. Xinhua News Agency has announced that the 17th meeting of the 13th NPC will be held on April 26-29, looking forward to more policy guidance, the bulls can still make a difference, and various base metals will gain momentum and make further breakthroughs.
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