This week, the lead market (4.14-4.21) rose first and then fell. The average price in the domestic market was 15230 yuan/ton over the weekend and 15275 yuan/ton over the weekend, up 0.3%.

The K-bar chart of commodity prices uses the concept of a price trend K-line to reflect weekly or monthly price fluctuations in the form of a bar chart. Investors can buy and sell investments based on the changes in the K-bar chart. Red indicates an increase; Green indicates a decline; The height of the K-bar represents the range of fluctuations. Since the market entered September, the expectations of downstream battery companies have increased during the peak season, driving the price of primary lead to rise. After the peak season ended, prices continued to weaken, and prices fluctuated after the holiday.

In the futures market, lead prices rose first and then fell this week. After the completion of delivery of the Shanghai Lead 2304 contract this week, the inventory of the previous exchange was significantly reduced by 12102 tons. The low inventory drove the Shanghai Lead higher, reaching a maximum of nearly 15500 yuan/ton. However, due to the drag of the off-season of fundamentals, the Shanghai lead has significant upward resistance and fell back on Friday. Fundamentally speaking, the upstream and downstream of lead are still in a seasonal off-season, with relatively light market trading and average actual transaction performance. As the weather warms up, downstream storage companies still have expectations of further lowering their operating rates, resulting in weaker market expectations for the future. In the future market, the main trend remains weak and volatile, with limited market volatility in the off-season under the dual weak supply and demand pattern.

On April 21, 2023, London Metal Exchange (LME) lead inventory decreased by 50 tons from 32200 tons

On April 22, the base metal index stood at 1245 points, unchanged from yesterday, a decrease of 22.96% from the cycle’s highest point of 1616 points (2022-03-09), and an increase of 93.93% from the lowest point of 642 points on November 24, 2015. (Note: The cycle refers to the period from December 1st, 2011 to the present).

According to the price monitoring of Business Society, in the 15th week of 2023 (4.10-4.14), there were a total of 9 commodities in the non-ferrous sector that rose month on month in the list of commodity prices. Among them, there was 1 commodity that increased by more than 5%, accounting for 4.3% of the monitored commodities in this sector; The top three commodities with the highest increase were magnesium (25.38%), silver (4.82%), and nickel (4.53%). There are a total of 11 products with a month on month decrease, and 5 products with a decrease of over 5%, accounting for 21.7% of the monitored products in this sector; The top three products in the decline were neodymium oxide (-8.26%), praseodymium oxide (-7.48%), and praseodymium neodymium alloy (-6.00%). This week’s average increase or decrease was -0.27%.