This week, the lead market (5.5-5.12) fluctuated and declined, with the average price in the domestic market at 15230 yuan/ton over the weekend and 15155 yuan/ton over the weekend, a decrease of 0.49%.

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, there was little volatility this week. LME inventory remained stable throughout the week, and the overall trend of non-ferrous metals was weak. On Thursday, macroeconomic data fell short of expectations and poor China’s social finance data affected market sentiment. The overall decline of non-ferrous metals was accompanied by a decline in Shanghai lead, but due to its good resilience, the decline was relatively small compared to other metals. In terms of fundamentals, battery companies have performed significantly during the off-season, with overall weak downstream demand. In terms of supply, with the gradual resumption of production by maintenance enterprises in the near future, the supply is more sufficient than in the early stage, and social inventory has also increased to a certain extent. Overall, there has been a slight increase in market supply after the holiday, while demand remains weak. In the future, the business community predicts that the trend will remain weak and volatile in the short term, with limited market volatility in the off-season.

On May 12, 2023, London Metal Exchange (LME) lead inventory of 32900 tons remained unchanged (in tons)

On May 14th, the base metal index stood at 1172 points, unchanged from yesterday, a decrease of 27.48% from the cycle’s highest point of 1616 points (2022-03-09), and an increase of 82.55% from the lowest point of 642 points on November 24, 2015. (Note: The cycle refers to the period from December 1st, 2011 to the present).

According to the price monitoring of Business Society, there were 8 commodities in the non-ferrous sector that rose month on month in the list of commodity prices in the 19th week of 2023 (5.8-5.12), with dysprosium oxide (3.93%), dysprosium iron alloy (3.47%), and metal praseodymium (2.63%) among the top 3 commodities. There are a total of 12 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 with a decline were nickel (-8.00%), silver (-5.31%), and copper (-3.84%). This week’s average increase or decrease was -0.54%.