This week’s lead market (6.2-6.9) fluctuated upwards, with the average price in the domestic market at 14950 yuan/ton over the weekend and 15055 yuan/ton over the weekend, up 0.7%.

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 prices fluctuated weakly after the holiday.

In terms of the futures market, Shanghai lead overall rose this week. Over the weekend, the decline in the US dollar led to a general strengthening of the metal market, while London lead rose and Shanghai lead followed suit. In terms of supply and demand, there are some production reduction plans for primary and secondary lead enterprises in the near future, and the market is expected to tighten supply. However, in terms of demand, the seasonal off-season atmosphere is strong, and the news of production reduction of battery enterprises has also been released in the off-season atmosphere, which offset the good news from the supply side. The Spot market as a whole shows a pattern of weak supply and demand. In the future, the Business Society predicts that the main trend will remain weak and volatile in the short term, with limited market volatility in the off-season. We will pay attention to the impact of macro level news on the market in the future.

London Metal Exchange (LME) lead inventory of 36800 tons on June 9, 2023 will be temporarily stable (unit: ton)

On June 11th, the base metal index stood at 1179 points, unchanged from yesterday, a decrease of 27.04% from the cycle’s highest point of 1616 points (2022-03-09), and an increase of 83.64% 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 Society, there were a total of 15 commodities in the non-ferrous sector on the list of commodity prices rising and falling in the 23rd week of 2023 (6.5-6.9), with zinc (3.59%), tin (3.50%), and silver (3.38%) ranking among the top three commodities on the list. There are four products that have decreased compared to the previous month, with magnesium (-1.49%), antimony (-0.61%), and metallic silicon (-0.56%) ranking among the top three products. This week’s average increase or decrease was 0.9%.