This week’s lead market (10.13-10.20) fluctuated upwards, with the average price in the domestic market at 16300 yuan/ton last weekend and 16435 yuan/ton at the beginning of the week, up 0.83%.

 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. The recent market trend has been relatively strong, with the lead ingot market rising for 10 consecutive weeks. After September, the overall market has slightly decreased.

In terms of supply and demand, some enterprises in the main production areas have maintenance plans after the holiday, while most of the enterprises that underwent preliminary maintenance have recently resumed normal production. The overall operating rate of primary lead has slightly increased compared to last month, and it is expected that the production will slightly increase within the month, indicating sufficient market supply. In terms of demand, as the weather turns colder, the traditional seasonal peak season has basically ended. However, this year’s overall peak season performance is average, and the overall peak season is not strong. Due to poor sales performance during the peak season and high inventory in the factory, active inventory removal is still the main focus. In terms of inventory, LME has accumulated to a new high in the past two years during this cycle, which has a certain impact on market sentiment. Overall, it is expected that lead prices will continue to face significant upward resistance and there may be room for a pullback.

On October 22, the base metal index stood at 1194 points, unchanged from yesterday, down 26.11% from the cycle’s highest point of 1616 points (2022-03-09), and up 85.98% 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 the Business Society, there were a total of 6 commodities in the non-ferrous sector that rose month on month in the 42nd week of 2023 (10.16-10.20) commodity price rise and fall list, with cobalt (4.25%), gold (2.21%), and lead (1.11%) among the top 3 commodities that rose. There are a total of 11 products that have decreased compared to the previous month, with nickel (-1.80%), praseodymium neodymium alloy (-1.53%), and zinc (-1.49%) ranking among the top three products. This week’s average increase or decrease was -0.07%.