This week, the lead market (1.8-1.15) rose first and then fell. The average price in the domestic market was 15970 yuan/ton at the beginning of last week, and 16085 yuan/ton at the beginning of this week, up 0.72%.

K-bar chart of commodity prices, using the concept of price trend K-line, reflects the weekly or monthly price fluctuations in the form of a bar chart. Investors can buy and sell based on the changes in the K-bar chart. Red indicates an increase; Green indicates a decline; The height of the K-bar indicates the magnitude of the rise and fall, and the overall market trend has been weak recently. The market has been declining for three consecutive months, and the lead ingot market has seen more ups and downs in recent times.

In terms of the futures market, the Shanghai lead price rose first and then fell during the cycle. The tight supply situation on the mining end in terms of supply and demand has not been effectively improved. The overall production of primary lead is relatively stable this week, while the supply of raw materials and waste batteries for recycled lead is still tight, and the production of recycled lead is still low. Due to various factors, the overall supply of lead ingots remains tight. In terms of demand, as the Spring Festival approaches, the downstream market is generally operating at a higher rate, and the recent battery operating rate has significantly increased. The demand for pre holiday stocking has been relaxed, and downstream purchases have actively entered the market, resulting in a significant decline in lead ingot inventory. Overall, there is still a demand for stocking during the Spring Festival, and there is still a demand for replenishing inventory in the downstream in the short term. It is expected that the market will remain stable and tend to be strong.

Related data:

On January 14th, the lead commodity index was 99.29, unchanged from yesterday, a decrease of 25.91% from the highest point in the cycle of 134.01 points (2016-11-29), and an increase of 33.04% from the lowest point of 74.63 points on March 19th, 2015. (Note: The cycle refers to 2011-09-01 present).

On January 14th, the base metal index was 1166 points, unchanged from yesterday, a decrease of 27.85% from the highest point in the cycle of 1616 points (2022-03-09), and an increase of 81.62% from the lowest point of 642 points on November 24th, 2015. (Note: The cycle refers to 2011-12-01 present).

On January 14th, the non-ferrous index was at 1096 points, unchanged from yesterday, a decrease of 28.74% from the highest point in the cycle of 1538 points (2021-10-18), and an increase of 80.56% from the lowest point of 607 points on November 24th, 2015. (Note: The cycle refers to 2011-12-01 present).

According to the price monitoring of Business Society, in the second week of 2024 (1.8-1.12), there were a total of 5 commodities in the non-ferrous sector that showed a month on month increase in commodity prices. The top 3 commodities with the highest increase were nickel (3.90%), antimony (3.25%), and lead (2.16%). There are a total of 15 products with a month on month decline, and 4 products with a decline of more than 5%, accounting for 16.7% of the monitored products in this sector; The top three products with a decline were dysprosium iron alloy (-14.09%), dysprosium oxide (-13.71%), and metallic dysprosium (-13.33%). The average increase and decrease this week is -2.45%.