This week, the lead market (10.8-10.14) showed a broad upward trend. The average price of the domestic market was 14990 yuan/ton at the weekend, and 15200 yuan/ton at the weekend, up 1.4%.

The K-bar chart of commodity prices reflects the weekly or monthly price changes in the form of a bar chart based on the concept of price trend K-line. Investors can buy, sell and invest according to the changes in the K-bar chart. Red means 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 peak season has increased, driving the price of primary lead to rise.

Lead futures market this week

varieties., Closing price., Compared with the same period last week., Inventory., Compared with the same period last week

Shanghai Lead., 15345 yuan/ton+ 360 yuan/ton., 58780 tons- four thousand nine hundred and eighteen

London Lead., USD 2035/t- 2 dollars/ton., 30400 tons- nine hundred and seventy-five

In terms of futures market, this week’s trend of Lun Lead was volatile, with the main operating range of 1965-2065 US dollars/ton, with a weekly drop of about 0.9%. LME announced on Monday that it would raise the margin of Lonza Lead to $180, and Lonza Lead closed sharply that day. In terms of Shanghai Lead, this week was dominated by strong shocks, with the main operating range of 15155-15385 yuan/ton, up about 2% weekly. During the National Day holiday, London lead rose sharply, while Shanghai lead also actively increased on the first day after the holiday. Later, as the US dollar index continued to be high, the metal market was generally under pressure, and the rise of Shanghai Lead tended to weaken. Supported by domestic advantages, Shanghai Lead rose overall this week.

The spot market continued to follow the trend of Shanghai Lead this week, as a whole. The primary lead enterprises have been active in production and good in supply in recent years. With the increase of lead concentrate imports, the tight supply pattern has been effectively alleviated. From the basic point of view, as the downstream battery peak season in September is expected to gradually increase, the lead ingot is better supported. In terms of supply, with the end of power rationing in September, the smelter started to improve significantly, and the import of raw lead concentrate increased. After the supply of raw materials kept pace, the original lead output increased significantly in September. After entering the peak season, the downstream battery enterprises started to work more, produced actively, and had a good demand for lead ingots. As the National Day holiday approached, the downstream enterprises had a certain demand for goods preparation before the festival, and the procurement was good, and the inventory decreased significantly this month. However, there are many negative macro factors in the near future. With the support of its own fundamentals, the lead price has a stronger anti drop ability than other metals. The recent rise of lead price is not enough due to macro drag, the peak season is not strong, and the upward force is limited. In general, the supply and demand of lead are increasing on the basic level, the market peak season is expected to be strong, and the trading is good. It is expected that the lead price in the future will continue to fluctuate in a wide range, with some room for price increase. It is necessary to focus on the downstream demand and the impact of macro factors.

According to the price monitoring of the business community, in the 41st week of 2022 (10.10-10.14), there were 11 kinds of commodities in the nonferrous metal sector that rose month on month in the list of commodity price rises and falls. The top three commodities that rose were cobalt (3.32%), nickel (3.24%) and copper (2.84%). There were five kinds of commodities that fell month on month, and the top three products that fell were silver (- 3.15%), praseodymium neodymium oxide (- 1.44%) and praseodymium neodymium alloy (- 0.30%). This week, the average rise or fall was 0.48%.