In October 2022, the domestic 1 # lead ingot market rose first and then fell. The average price of the domestic market was 14990 yuan/ton at the beginning of the month, 15145 yuan/ton at the end of the month, with a monthly increase of 1.03%.

On October 30, the lead commodity index was 91.56, unchanged from yesterday, 31.68% lower than the cycle’s highest point of 134.01 (2016-11-29), and 22.69% higher than the lowest point of 74.63 on March 19, 2015. (Note: the cycle refers to 2011-09-01 to now).

The K-bar chart of commodity prices reflects the weekly or monthly price changes in the form of a bar chart based on the concept of price trend K-line. Investors can buy, sell and invest according to the changes in the K-bar chart. Red means rising; Green means: down; The height of the K column indicates the range of rise and fall. From the monthly K column chart, it can be seen that the lead price has fluctuated mainly in recent half a year, with the overall rise and fall within a reasonable range and a limited range. From the weekly K-bar chart, we can see that the lead price has fallen more or less recently, and it has declined overall, but the decline is small, and the overall trend is still dominated by narrow fluctuations in the off-season. After September, with the downstream battery enterprises entering the peak season, the lead ingot market picked up slightly.

Lead futures market in October 2022

Variety, closing price on September 28, closing price on October 28, inventory on September 28, and inventory on October 28

Shanghai lead, 14875 yuan/ton, 15050 yuan/ton, 55975 tons, 53693 tons

London lead, 1757.5 US dollars/ton, 1992 US dollars/ton, 32750 tons, 28250 tons

From the basic point of view, as the downstream battery peak season is expected to gradually increase after September, the lead ingot is better supported. In terms of supply, the import situation at the mine end is not as good as the market expectation, and the overall supply is still tight. The recent production situation of domestic manufacturers is good, and the overall operating rate has slightly increased. The production of renewable lead enterprises is good in the near future, and the resumption of production is active, and the overall supply of lead is slightly improved. The production of downstream battery enterprises has been good since the peak season, and the overall demand for lead ingots is well supported. The lead ingot inventory declined significantly this month, but there are many negative macro factors in the near future. The lead price, supported by its own favorable fundamentals, has a stronger anti drop ability than other metals. The recent rise of lead price is not enough due to macro drag, the peak season is not strong, and the upward force is limited. In general, the supply and demand of lead are increasing on the basic level, the market peak season is expected to be strong, and the trading is good. As the battery industry enters the end of the peak season in November, the market is expected to decline, but the overall performance is still fair. It is expected that the lead price in the future will continue to fluctuate in a wide range, with some room for price increase. It is necessary to focus on the downstream demand and the impact of macro factors.