This week, the lead market (1.15-1.22) overall rose, with the average price in the domestic market at 16085 yuan/ton at the beginning of last week and 16370 yuan/ton at the beginning of this week, up 1.77%.

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.

The social inventory of lead ingots has been continuously declining recently, dropping to a low level within three years, boosting the futures market. Recently, lead prices have been more affected by supply and demand. In terms of supply, the mining supply is still tight, and some primary lead enterprises have recently resumed production. Some enterprises plan to conduct a review after the year, and the overall operating rate has not changed much. Recycled lead enterprises have been affected by high prices of waste batteries and tight supply, resulting in overall low production in recent times. Overall, the supply of lead ingots in the market is slightly tight, and downstream storage enterprises still have some stocking demand. They actively enter the market for inquiries, and the market atmosphere is good. In terms of demand, downstream enterprises are gradually entering the holiday season, and the market is expected to start lower in the future. The demand for stocking is almost coming to an end, and demand support is expected to be weak in the future. Overall, although the lead ingot market still has positive support from the supply side, downstream purchasing intentions are slowly falling, and it is expected that there will be significant resistance to further upward movement in the short term. There may be room for a pullback in the market after stocking up, and the short-term trend will remain weak and volatile.

Related data:

On January 21, the base metal index was 1161 points, unchanged from yesterday, a decrease of 28.16% from the highest point in the cycle of 1616 points (2022-03-09), and an increase of 80.84% from the lowest point of 642 points on November 24, 2015. (Note: The cycle refers to 2011-12-01 present).

On January 21, the non-ferrous index was at 1092 points, unchanged from yesterday, a decrease of 29.00% from the highest point in the cycle of 1538 points (2021-10-18), and an increase of 79.90% from the lowest point of 607 points on November 24, 2015. (Note: The cycle refers to 2011-12-01 present).

According to the price monitoring of Business Society, in the third week of 2024 (1.15-1.19), there were a total of 8 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 tin (2.17%), dysprosium oxide (2.08%), and antimony (2.01%). There are a total of 10 products with a month on month decline, and the top 3 products with the largest decline are zinc (-1.71%), aluminum (-1.00%), and silver (-0.77%). The average increase and decrease this week is 0.11%.