SunSirs: Morning News of Oct 15, PBD and PB Decreased at Night

SunSirs: Oct 15

On Oct 14, the Lead Commodity Index was 102.59, 0.19 lower than that of yesterday, 23.45% lower than the peak of 134.01 in the cycle (Nov 29, 2016), and 37.46% higher than the lowest point of 74.63 (Mar 19, 2015). (Cycle: Sep 1, 2011 to date)

On Oct 14, the U.S. dollar index continued Friday's trend and kept swinging up, mainly due to the unclear trade prospects and optimistic expectations of the brexit negotiation, the U.S. dollar closed at 98.457, increasing nearly 0.1%. The US steel tariff on Turkey raised to 50%, back to the level before the tax cut in May, and immediately stopped the negotions with turkey on trade agreements which worth 100 billion US dollar. On the aspect of crude oil, due to the lack of details in the first phase of the Sino US trade agreement, the optimism on trade relations was weakened. Previously, the easing of trade relations had boosted oil prices last weekend, and the market's excitement on the trade agreement had subsided, Brent crude oil fell more than 2% to 60. LME market decreased mainly, PBD decreased almost 1.8%, NID decreased almost 1.3%, SND decreased almost 0.5%, ZSD decreased almost 0.3%, AHD decreased almost 0.2%, CAD decreased almost 0.3%. The domestic market mainly decreased as well. RB and SS decreased over almost 2%，NI decreased almost 1.6%, PB decreased almost 0.9%, ZN decreased almost 0.5%, SN decreased almost 0.2%, CU decreased almost 0.1%, AL decreased almost 0.1%.

PBD trend: The opening price of PBD last night was 2,178USD/t. In Asian trading, PBD swung lower. In European trading, PBD decreased to 2,129.5 USD/t, and then stopped and stabilized at 2,135USD/t. The closing price was 2,138USD/t, decreasing by 39USD/t (1.79%).

PB trend: The opening price of PB1911 last night was 16,845RMB/t. Influenced by PBD, it went down to 16,725RMB/t, and then bottomed out. The closing price was 16,815RMB/t, decreasing 150RMB/t (0.88%). Open interest increased 682 lots to 5,1656 lots.

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