This week’s lead market (6.16-6.25) fluctuated and rose, with the average price in the domestic market at 15265 yuan/ton over the weekend and 15355 yuan/ton over the weekend, up 0.59%.

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 the recent market trend has been volatile.

In the futures market, for three trading days this week, Shanghai Lead continued to rise on the basis of expected improvement in lead ingot exports. As of June 21, the futures market held 95613 positions, with significant increase in main and secondary contract positions and a significant increase in trading activity. The price of the Spot market has followed the overall upward trend of the futures market this week. The market price is high and volatile, and the market trading has improved compared with the previous period. In terms of supply and demand, the maintenance of primary lead and recycled lead enterprises has basically ended in mid month. Currently, manufacturers are actively operating. With the rise of lead ingot prices and the recovery of manufacturers’ profits, they are actively operating. If the market continues to maintain the current heat, there are expectations of an increase in lead ingot supply in the future. In terms of demand, the downstream market is still in the off-season, and the sales situation of batteries is still not obvious and easy to grasp. In the future, Business Society predicts that the lead ingot market will experience a slight upward trend in the short term driven by export expectations, with limited market volatility in the off-season. We will focus on the impact of macro level news on the market in the future.

London Metal Exchange (LME) lead inventory of 39775 tons will be temporarily stable on June 23, 2023 (unit: ton)

On June 24th, the base metal index stood at 1206 points, unchanged from yesterday, a decrease of 25.37% from the cycle’s highest point of 1616 points (2022-03-09), and an increase of 87.85% from the lowest point of 642 points on November 24th, 2015. (Note: The cycle refers to the period from December 1st, 2011 to the present).

According to the price monitoring of Business Society, there were a total of 7 commodities in the non-ferrous sector on the list of rising and falling commodity prices in the 25th week of 2023 (6.19-6.23), with tin (1.65%), silicon metal (0.88%), and copper (0.77%) ranking among the top 3 commodities. There are a total of 12 products that have decreased compared to the previous month, with the top three products falling being metal neodymium (-3.12%), silver (-2.64%), and praseodymium neodymium oxide (-2.02%). This week’s average increase or decrease was -0.45%.