On December 7, the BPI of the Commodity Price Index was 866 points, an increase of 4 points from December 6, a decrease of 15.01% from the highest point in the cycle of 1019 points (2012-04-10), and the lowest from February 03, 2016 660 points increased by 31.21%. (Note: The period refers to 2011-12-01 till now).
The lead commodity index on December 7 was 89.77, a decrease of 0.91 points from yesterday, a decrease of 33.01% from the highest point in the cycle of 134.01 points (2016-11-29), and an increase of 20.29% from the lowest point of 74.63 points on March 19, 2015. (Note: Period refers to 2011-09-01 to present).
On Monday, the U.S. dollar index rose 0.19% to 90.8650; the offshore renminbi fell 0.04% against the U.S. dollar, and USDCNH reported 6.5194; the State Administration of Foreign Exchange released data showing that as of the end of November 2020, China’s foreign exchange reserves amounted to 3,178.5 billion U.S. dollars, an increase from the end of October. US$50.5 billion, an increase of 1.61%; according to CME’s “Federal Reserve Observation”: the probability of the Federal Reserve maintaining interest rates in the 0%-0.25% range in December is 100%, and the probability of raising interest rates by 25 basis points to the 0.25%-0.50% range is 0 %; the probability of maintaining interest rates in the 0%-0.25% range in January next year is 100%, and the probability of raising interest rates by 25 basis points is 0%. Last night, the outer metal market in London was mixed. London copper fell 0.5%, London aluminum fell 1.4%, London zinc rose 2.15%, London nickel fell 0.06%, London tin rose 0.6%, and London lead rose 2.8%; in the domestic market, international copper fell 0.2% and Shanghai copper fell 0.3%. Shanghai aluminum fell 0.5%, Shanghai zinc rose 1.94%, Shanghai lead rose 1.83%, Shanghai nickel rose 1%, Shanghai tin rose 1%, thread rose 1.55%, and stainless steel fell 0.04%.
LME lead trend: The opening price of LME lead overnight was US$2033/ton, the lowest was US$2024/ton, the highest was US$2099.5/ton, and the closing price was US$2089/ton. It closed up by US$56.5/ton, an increase of 2.78%. 3091 lots were traded, and open interest increased by 534 hands to 118,806.
Shanghai lead trend: the main domestic 2101 contract opened at 14710 yuan/ton during the night trading hours, the highest was 15080 yuan/ton, and the closing price was 15030 yuan/ton. The end closed up 270 yuan/ton, an increase of 1.83%; 35,152 lots were traded, and the open interest decreased 1211 hands to 33943 hands.
Domestic battery consumption is average, and downstream demand is stable. There is no bright spot for consumption. The London lead rebounded and the Shanghai lead rose nearly 1.9%. The spot market price rose today.
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