This week, the lead market (12.30-1.6) went down in shock. The average price of the domestic market was 15745 yuan/ton at the end of last week and 15560 yuan/ton at the end of this week, down 1.17%.

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, and the price has weakened after the end of the peak season.

In the futures market, Lun Lead fell continuously this week, with the main fluctuation range of 2188-2298 US dollars/ton. Affected by the weak supply and demand, Lun Lead fell for four consecutive weeks. The main shock range of Shanghai lead was 15600-16110 yuan/ton, which fell continuously this week due to macro factors.

Basically, lead has not changed much and remains in the off-season market. On the supply side, all primary lead enterprises have resumed production and stopped production, and the overall operating rate has increased slightly. In terms of downstream demand, after the weather turned cold, the battery manufacturers entered the seasonal off-season, the domestic market was approaching the Spring Festival holiday, and the pre-holiday reserve warehouse was almost at an end. The battery enterprises gradually began to enter the holiday, with a significant decline in the operating rate and a decline in the demand for lead ingots. The market price continued to decline this week, the domestic inventory was in the accumulation stage, and the market trading was cold. In general, the lead ingot market has entered a seasonal off-season, with weak supply and demand in the lead market. The short-term trend continues to follow the macro factors, and there is still some room for decline in the long term.

The non-ferrous index stood at 1179 points on January 8, unchanged from yesterday, down 23.34% from the highest point of 1538 points in the cycle (2021-10-18), and up 94.23% 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 Agency, there were seven commodities in the non-ferrous sector in the list of commodity prices rising and falling in the first week of 2023 (1.2-1.6), with the top three commodities rising respectively being metal praseodymium (2.19%), antimony (1.67%) and neodymium oxide (1.30%). There are 10 commodities with a month-on-month decline, and 2 commodities with a decline of more than 5%, accounting for 8.7% of the monitored commodities in this sector; The top three products falling were nickel (- 9.87%), aluminum (- 5.30%) and silver (- 3.84%). The average rise and fall of this week was -0.93%.