The lead market (11.5-11.12) surged this week. The average price of the domestic market was 15475 yuan / ton last weekend and 15500 yuan / ton this weekend, up 0.16% this week.

The commodity price K-bar chart uses the concept of K-line of price trend to reflect the weekly or monthly price changes in the form of bar chart. Investors can buy, sell and invest according to the changes of K-bar chart. Red means: rising; Green means: falling; The height of K column indicates the range of rise and fall. The lead price shown in the figure above has maintained a volatile trend for four consecutive weeks.

The trend of Lun lead market fluctuated this week. The mainstream range was between 2310-2385 US dollars / ton. At the beginning of the week, the US dollar fell, and the metal market was boosted and rose slightly. Later, as the US dollar market stopped falling and rebounded, the base metals began to operate under pressure, and Lun lead began to fall. In terms of inventory, LME inventory fell by about 600 tons during the week, which partially boosted the market. During the week, the trend of Shanghai lead fluctuated. It rose at the beginning of the week and fluctuated in the middle of the week. At the weekend, it was boosted by low inventory and other positive factors, and rose again.

The spot market mainly follows the trend of Shanghai lead and is dominated by shocks. At present, the overall inventory of lead is still high, and the impact of power restriction policy on the overall market is gradually weak. The demand brought by storage enterprises’ sprint for annual tasks basically offsets the output growth brought by re production manufacturers. Although supported by downstream demand, it is still dominated by consumption of current inventory.

According to the price monitoring of the business community, in the list of commodity prices rising and falling in the 45th week of 2021 (11.8-11.12), there are 16 kinds of commodities rising month on month in the non-ferrous sector, including 1 kind of commodity rising by more than 5%, accounting for 4.5% of the monitored commodities in the sector; The top three commodities were silver (5.31%), aluminum (3.02%) and nickel (2.76%). There are 3 kinds of commodities with a month on month decrease, and 2 kinds of commodities with a decrease of more than 5%, accounting for 9.1% of the monitored commodities in this sector; The products with the top three declines were silicon (- 10.61%), antimony (- 5.13%) and praseodymium (- 0.92%). The average rise and fall this week was 0.57%, and most of the nonferrous metals markets rose.

The impact of power rationing policy has been ignored. The recovery of primary lead enterprises is good, the overall supply side is good, the recent demand recovery of downstream storage enterprises is good, and the supply and demand is good, but the high overall inventory is still the main factor restricting the rise of lead price. In the past month, under the restriction of demand recovery but high inventory, the lead price has continued to fluctuate. Lead prices are expected to remain volatile in the short term.