This week, the lead market (8.11-8.18) fluctuated and rose, with the average price in the domestic market at 15780 yuan/ton at the beginning of last week and 15940 yuan/ton at the beginning of this week, up 1.01%.
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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 rise and fall, and the recent market trend is relatively strong, with the lead ingot market rising for six consecutive weeks.
The futures market fluctuated and rose this week, and the Shanghai lead continued its high volatility trend. Fundamentally speaking, the production of electrolytic lead increased in July, and the start of construction in August showed little change compared to July. Therefore, the supply of primary lead remained incremental in August. In terms of recycled lead, there have been recent enterprise maintenance but also resumption of production, so the change in production is not significant. In terms of demand, the weather has turned hot, and downstream demand has slightly improved compared to the previous period. Recently, overall battery inventory has declined, and the operating rate of battery companies has also slightly increased, leading to a rebound in purchasing enthusiasm. Overall, the supply and demand of the lead ingot market have increased, and the downstream peak season has begun to show signs. The market’s expectations for the future market have improved, and market prices have steadily increased. It is expected that the lead ingot market will operate in a stable, medium to strong manner in the short term.
On August 18th, the base metal index was 1196 points, an increase of 11 points from yesterday, a decrease of 25.99% from the highest point of 1616 points in the cycle (2022-03-09), and an increase of 86.29% 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 Business Society, there were a total of 17 commodities in the non-ferrous sector that rose month on month on the commodity price rise and fall list in the 33rd week of 2023 (8.14-8.18), with antimony (2.61%), nickel (1.28%), and lead (1.21%) ranking among the top three commodities. There are three products that have decreased compared to the previous month, with cobalt (-2.30%), tin (-1.84%), and zinc (-1.22%) ranking among the top three products. This week’s average increase or decrease was 0.42%.
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