This week, the lead market (1.6-1.13) went down in shock. The average price of the domestic market was 15560 yuan/ton at the end of last week and 15215 yuan/ton at the end of this week, down 2.22%.

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 continues to weaken after the end of the peak season.

In the futures market, this week’s lead price was mainly down, with an operating range of 2120-2310 US dollars/ton and a weekly decline of about 1%. This week, the market mentality was dragged down by the macro impact, and prices continued to decline. The US Federal Reserve’s non-agricultural data report was quite different from the market expectation, which triggered the market’s risk aversion sentiment, and the lead price fell from a high level. Shanghai lead fell continuously on Friday, with a weekly decline of about 2.3%.

The spot market is mainly down this week. As the holiday season approaches, the market volume is relatively light, and the downstream demand is gradually falling, and the market holiday atmosphere is relatively strong. Basically, lead has not changed much and remains in the off-season market. On the supply side, the operating rate of primary lead enterprises has declined due to the holiday. In terms of downstream demand, after the weather turned cold, battery manufacturers entered the seasonal off-season. As the domestic market approached the Spring Festival holiday, battery companies gradually began to enter the holiday. The operating rate declined significantly and the demand for lead ingots declined. 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.

London Metal Exchange (LME) lead inventory 21550 tons on January 13, 2022

The non-ferrous index stood at 1204 points on January 14, unchanged from yesterday, down 21.72% from the highest point of 1538 points in the cycle (2021-10-18), and up 98.35% 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, in the list of commodity prices rising and falling in the second week of 2023 (1.9-1.13), there were 9 commodities in the non-ferrous sector that rose on a month-on-month basis, including 1 commodity that rose more than 5%, accounting for 4.3% of the monitored commodities in this sector; The top three commodities were tin (7.06%), copper (3.72%) and aluminum (3.41%). There were seven commodities that fell on a month-on-month basis, with cobalt (- 2.50%), dysprosium oxide (- 1.80%) and lead (- 1.68%) among the top three products. The average rise and fall of this week was 0.39%.