Search
Close this search box.

NEWS

China stainless steel factory

Supply pressure temporarily eases; lead prices may see a minor increase on the 2nd.

As the Federal Reserve refrains from raising interest rates as scheduled and with U.S. stocks rebounding, overnight London lead prices increased by 1.35%. Anticipations of increasing stockpiles due to weakening domestic demand at the margin have grown, but the temporary relief from supply pressure due to refinery maintenance is bolstering Shanghai lead prices, and it is expected that lead prices will see a minor increase today.

Overnight, London lead exhibited a strong, fluctuating trend, opening at $2085.5 per ton, reaching a high of $2115 and a low of $2075.5, and closing at $2109.5, up $28 or 1.35%. The trading volume was 5699 lots, with an increase of 111 lots in open interest. In the evening, the main 2312 contract for Shanghai lead opened weak but then exhibited a strong, fluctuating trend, closing at CNY 16,350 per ton, up CNY 65 or 0.40%.

Today’s spot lead price market outlook: As the Federal Reserve refrains from raising interest rates as scheduled and the market lowers expectations for a December rate hike, U.S. stocks have rebounded. Both U.S. bond yields and the U.S. dollar index have fallen from their highs, providing support to non-ferrous metals. Overnight London lead prices exhibited a strong, fluctuating trend and increased by 1.35% to $2109.5. While Powell stated that the Federal Reserve is nearing the end of rate hikes, the new Federal Reserve communications suggest that the Fed has left the door open for further rate hikes. There are still differing opinions in the market regarding the rate hike outlook, and macroeconomic factors are impacting lead price fluctuations. The transition from the domestic peak season to the traditional off-season has led to a noticeable weakening in marginal demand, strengthening expectations of increased stockpiles. However, with smelters undergoing shutdowns for maintenance, the supply pressure is showing a temporary easing trend, supporting Shanghai lead to trade higher. It is expected that spot lead prices will see a minor increase today.

New Center

More Posts

Say “NO” to foreign high-price monopolies! The core technology of the laser probe series has been independently controlled by domestic manufacturers!

Since 2010, Leimu Company has always adhered to the core concepts of technological innovation and precision manufacturing, committed to the independent research and development of metallurgical probes, and successfully launched a series of products including oxygen-determining probes, auxiliary gun probes, grenade-type probes and hydrogen-determining probes. A variety of high-quality probe products. With its profound accumulation

Send Us A Message

CONTACT US

Let's have a chat