On November 11, the BPI of the commodity price index was 825 points, an increase of 4 points from November 10, a decrease of 19.04% from the highest point in the cycle of 1，019 points (2012-04-10), and an increase of 25.00% from the lowest point on February 03. (Note: The period refers to 2011-12-01 till now).
The Lead Commodity Index on November 11 was 89.31, an increase of 0.68 points from November 10, a decrease of 33.36% from the highest point in the cycle of 134.01 points (2016-11-29), and a decrease of 33.36% from the lowest point of 74.63 points on March 19, 2015. An increase of 19.67%. (Note: Period refers to 2011-09-01 to present).
In late New York trading, the US dollar index rose 0.31% to 93.0081, the euro fell 0.33% to 1.1777 against the US dollar, and the offshore yuan fell 0.3% to the US dollar. Weaker than previous expectations, once again lowered the demand for crude oil this year and next. The monthly report shows that the demand for OPEC crude oil in the fourth quarter of 2020 is lowered by 960,000 barrels/day; the global crude oil demand growth rate in 2020 is expected to be -9.75 million barrels/day, and the previous value is -947 million barrels/day; OECD Organizational data shows that the new crown epidemic continues to have an impact on the global economy. China was the first (and only) economy to rebound from the epidemic's losses, with GDP growing by 4.9% year-on-year in the third quarter. Most European economies suffered huge losses in their GDP in the third quarter, with Spain, Portugal, the Czech Republic and Austria suffering the most. Although the United States rebounded quarter-on-quarter, GDP growth in the third quarter was still nearly 3% lower than the same period last year. Crude oil prices: As of 3 a.m. Beijing time on November 12, spot Brent closed at US$43.195/barrel, up 1.48 US dollars or 3.55% from the previous trading day. WTI closed at $41.74/barrel, up $0.07 or 0.17% from the previous trading day. The LME external metal market was mixed. Among them, LME nickel rose 0.6%, LME aluminum rose 0.31%, LME lead rose 0.08%, LME tin fell 0.36%, LME zinc fell 0.94%, LME copper fell 1.09%, and domestic night metal In the futures market, Shanghai Aluminum rose 1.1%, Shanghai Nickel rose 0.34%, Shanghai Copper rose 0.12%, Shanghai Tin fell 0.03%, Shanghai Lead fell 0.55%, and Shanghai Zinc fell 1.43%.
London lead trend: LME lead opened overnight at US$1,863/ton, the highest was US$1878/ton, the lowest was US$1851/ton, and it closed at US$1,868.5/ton, up 1.5 US dollars/ton, or 0.08%.
Shanghai Lead Trend: The opening price of Shanghai Lead’s main 2012 contract was 14560 yuan/ton, the highest was 14620 yuan/ton, the lowest was 14470 yuan/ton, and the closing price was 14535 yuan/ton, down 80 yuan/ton, or 0.55%.
Lead inventories in London have declined this week, and consumption during peak seasons has been weak. The recent price fluctuations are the main reasons for the market to wait and see.
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