This week, the lead market (6.26-7.03) fell first and then rose, with a “V” shaped trend. The average price in the domestic market was 15385 yuan/ton at the beginning of last week and 15395 yuan/ton at the beginning of this week, up 0.06%.

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-pillar indicates the range of fluctuations, with recent market trends showing volatility, and the lead ingot market experiencing mixed gains and losses.

The futures market fell first and then rose this week. At the beginning of last week, under the influence of macro factors, the futures market mainly went down. At the beginning of this week, under the influence of macro positive factors, the metal market generally rose. From a macro perspective, the early US economic data in the week’s market showed strong performance, while the metal market declined. By Friday, inflation expectations had cooled, the US dollar had fallen, and the metal market had strengthened. 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, there is an expectation of an increase in lead ingot supply due to active operation. In terms of demand, the downstream market is still in the off-season, and the sales situation of batteries is still not significantly improving. Battery companies maintain the demand for replenishment and mainly support the demand for lead ingots. Overall, the recent improvement in the export situation of lead ingots has boosted the market to some extent. However, under the influence of the off-season in the domestic market, it is difficult for the lead ingot market to have significant fluctuations. The main trend in the future is small fluctuations, and it is still necessary to pay attention to the impact of macro level news on the market in the future.

On June 30, 2023, the lead inventory of the London Metal Exchange (LME) was 41225 tons, flat (unit: tons)

On July 2nd, the base metal index stood at 1183 points, unchanged from yesterday, a decrease of 26.79% from the cycle’s highest point of 1616 points (2022-03-09), and an increase of 84.27% 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 the business community, there are four kinds of commodities in the nonferrous metal sector that have risen month on month in the list of commodity price rises and falls in the 26th week of 2023 (6.26-6.30), with cobalt (4.95%), tin (1.10%) and Dysprosium(III) oxide (0.68%) in the top three. There are a total of 15 products with a month on month decrease, and 2 products with a decrease of over 5%, accounting for 8.7% of the monitored products in this sector; The top three products in the decline were praseodymium neodymium oxide (-7.22%), praseodymium neodymium alloy (-6.67%), and neodymium oxide (-4.50%). This week’s average rise and fall was -1.21%.

The latest report released by the World Bureau of Metals Statistics (WBMS) shows that in April 2023, the global refined lead production was 1.165322 million tons, the consumption was 1.223342 million tons, and the supply shortage was 580200 tons. The global lead ore production in April 2023 was 3666.82 million tons