This week, the lead market (4.1-4.8) fell first and then rose. The average price in the domestic market was 16365 yuan/ton last week and 16345 yuan/ton this week, a decrease of 0.12%.

K-bar chart of commodity prices, using the concept of price trend K-line, reflects the weekly or monthly price fluctuations in the form of a bar chart. Investors can buy and sell based on the changes in the K-bar chart. Red indicates an increase; Green indicates a decline; The height of the K-bar indicates the range of fluctuations, and the overall market trend has been stable, moderate, and strong in recent times. The lead ingot market has had relatively small fluctuations in recent times.

The lead ingot market has remained in a low season recently, with relatively small market fluctuations during this cycle. The overall trend has declined first and then increased, and prices have fallen due to high inventory before the holiday. During the Qingming Festival, macro factors such as geopolitical sentiment and risk aversion have boosted the overall performance of the non-ferrous metal market. During the holiday period, external lead prices have risen, while Shanghai lead prices have risen after the holiday. However, due to fundamental constraints, the increase is limited. From the perspective of supply and demand, silver prices have been relatively high recently, which has boosted the enthusiasm of smelters to start production. The supply of lead ingots is expected to increase. In terms of demand, the downstream market is still in a seasonal off-season, and the overall sales of lead-acid batteries are weak. Currently, manufacturers are mainly actively digesting inventory, maintaining the principle of replenishing inventory when necessary for raw material procurement. Some manufacturers also have maintenance plans, resulting in overall weak downstream demand. Overall, the supply of lead ingots is relatively stable. In terms of demand, it is in a seasonal off-season. The recent changes in supply and demand have been limited, and the market is operating weakly, but overall fluctuations are not significant. It is expected that the market will continue to experience narrow fluctuations in the short term.

Industry data:

On April 7th, the base metal index was 1208 points, unchanged from yesterday, a decrease of 25.25% from the highest point in the cycle of 1616 points (2022-03-09), and an increase of 88.16% from the lowest point of 642 points on November 24th, 2015. (Note: The cycle refers to 2011-12-01 present).

On April 7th, the non-ferrous index was 1133 points, an increase of 1 point from yesterday, a decrease of 26.33% from the highest point in the cycle of 1538 points (2021-10-18), and an increase of 86.66% from the lowest point of 607 points on November 24th, 2015. (Note: The cycle refers to 2011-12-01 present).

According to the price monitoring of Business Society, in the 14th week of 2024 (4.1-4.5), there were a total of 17 commodities in the non-ferrous sector that showed a month on month increase in commodity prices. Among them, there were 3 commodities with an increase of more than 5%, accounting for 12% of the monitored commodities in this sector; The top three commodities with the highest increase are praseodymium neodymium alloy (5.71%), metallic praseodymium (5.70%), and praseodymium oxide (5.59%). There are four products that have experienced a month on month decline, with the top three products experiencing a decline being silicon metal (-0.93%), lead (-0.64%), and cobalt (-0.22%). The average increase and decrease this week was 1.71%.