This week, the lead market (2.10-217) fluctuated and fell. The average price of the domestic market was 15235 yuan/ton at the end of last week, and 15030 yuan/ton at the end of this week, down 1.35%.

The commodity price K-bar chart uses the concept of price trend K-line to reflect the weekly or monthly price changes in the form of bar chart. Investors can buy and sell investments according to the changes in the K-bar chart. Red indicates: rising; Green means: down; The height of the K column indicates the range of rise and fall. Since the market entered September, the expectation of downstream battery enterprises in the peak season has increased, driving the price of primary lead to rise. After the end of the peak season, the price continued to weaken, and the price rose slightly after the holiday.

In terms of the futures market, in terms of the macro aspect of the week, the U.S. CPI data in January fell less than expected, while the PPI data growth exceeded expectations, and the overall performance of the economic data was poor. The upward metal market of the US dollar index was generally under pressure. Affected by the expectation of the Federal Reserve’s continuous holiday, the futures market was volatile and fell during the week. Lun Lead fell more than 1%, with an operating range of 2020-2120 US dollars/ton, while Shanghai Lead fell 1.46%, with an operating range of 15050-15400 yuan/ton.

The spot market was generally down this week, and the wait-and-see sentiment in the domestic market was relatively strong. With the end of the holiday, the smelter has basically resumed normal production. At present, the overall operation is relatively stable, and the renewable lead is also basically on the right track. However, due to the impact of corporate profits, the current operating rate of renewable lead is low, the overall supply of lead ingots is relatively stable, and the domestic stock accumulation is relatively obvious. In terms of demand, downstream battery enterprises have slightly increased their demand for lead ingots, but the overall demand for lead ingots is still based on demand. In general, the lead ingot market has basically returned to normal operation, and the market supply and demand have increased. This week, the price has declined under the dual impact of the macro superimposed inventory. It is expected that the future market will still remain volatile, mainly focusing on the macro impact.

February 17, 2022 London Metal Exchange (LME) lead inventory 25000 tons (unit: tons)

The non-ferrous index stood at 1175 points on February 19, unchanged from yesterday, down 23.60% from the highest point of 1538 points in the cycle (2021-10-18), and up 93.57% from the lowest point of 607 points on November 24, 2015. (Note: the period refers to 2011-12-01 to now).

According to the price monitoring of the Business News Agency, there were three commodities in the non-ferrous sector in the list of commodity prices rising and falling in the 7th week of 2023 (2.13-2.17). The top three commodities were titanium concentrate (2.09%), copper (1.46%) and antimony (0.58%). A total of 19 commodities fell on a month-on-month basis, with dysprosium oxide (- 4.44%), dysprosium ferroalloy (- 4.25%) and praseodymium neodymium alloy (- 4.00%) among the top three products. This week’s average rise and fall was -1.44%.