This week, the lead market (8.13-8.20) fluctuated downward. The average price of the domestic market was 15358.33 yuan / ton last weekend and 15175 yuan / ton this weekend, down 1.19% this week.

On August 22, the lead commodity index was 92.35, the same as yesterday, down 31.09% from the highest point of 134.01 in the cycle (November 29, 2016), and up 23.74% from the lowest point of 74.63 on March 19, 2015（ Note: the period refers to the period from September 1, 2011 to now).

This week, Lun lead fluctuated downward, with an overall fluctuation of US $2240-2340 / ton. This week, affected by the rebound of the US index, the metal market was under pressure, and the overall trend was weak. Lun lead fell, with insufficient upward momentum. LME inventory data is poor, the decline is slightly slow this week, and Lun lead is under pressure. The main 2109 contract of Shanghai lead follows the trend of Lun lead. It is dominated by weak shocks this week and is under overall pressure.

The spot market continued the downward trend of last week this week, and the overall inventory is still high, about 200000 tons, with obvious accumulation. The smelter is expected to reduce production. At present, it mainly maintains long-term single customers, and the inventory in the plant is relatively normal. Lead prices remain depressed and supply exceeds demand. The downstream mainly purchases on demand, and the downstream enters the peak season. However, it is expected that the peak season is not prosperous this year. During the week, there are some savings enterprises in the downstream bargain hunting to purchase in the market, but the overall gap is obvious compared with previous years.

According to the price monitoring of the business community, in the list of commodity prices rising and falling in the 33rd week of 2021 (8.16-8.20), there are 5 kinds of commodities rising month on month in the non-ferrous sector, including 1 kind of commodity rising by more than 5%, accounting for 4.5% of the monitored commodities in the sector; The top three commodities were metallic silicon (7.58%), titanium concentrate (4.65%) and gold (0.71%). A total of 13 commodities fell month on month, and the top three products were copper (- 4.52%), nickel (- 4.09%) and dysprosium ferroalloy (- 2.45%). The average rise and fall this week was – 0.33%. Most nonferrous commodity prices fell this week.

At present, most downstream purchases are based on demand. Under the environment of no improvement in downstream consumption and high inventory, it is expected that the price of lead ingots will still fluctuate.