This week, the lead market (10.6-10.13) fluctuated and declined, with the average price in the domestic market at 16500 yuan/ton over the weekend and 16300 yuan/ton at the beginning of the week, a decrease of 1.21%.
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 the futures market, it has been fluctuating and declining this week, with inventory of lead rising to over 90000 tons, reaching a new high since June 2021. After the holiday, the spot market has increased in supply and the market mentality is weak. In terms of supply and demand, some enterprises in the main production area will undergo maintenance after October, but some enterprises that underwent preliminary maintenance will resume production, so the overall change in supply is not significant. As the weather turns colder on the demand side, the seasonal peak season is approaching its end, and market expectations for the future market have been lowered, resulting in an overall weak market mentality. Overall, the peak season of the lead ingot market is coming to an end, with high overseas inventory and approaching delivery date. Currently, overall social inventory is high, and the market is operating weakly under high inventory pressure. The bearish trend is currently expected to be weak in the lead ingot market as a whole.
On October 15th, the base metal index stood at 1191 points, unchanged from yesterday, a 26.30% decrease from the cycle’s highest point of 1616 points (2022-03-09), and an 85.51% increase 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 the Business Society, there were four commodities in the non-ferrous sector on the list of commodity prices in the 41st week of 2023 (10.9-10.13), with cobalt (1.10%), nickel (0.44%), and titanium concentrate (0.15%) ranking among the top three commodities. There are a total of 15 products that have decreased compared to the previous month, with zinc (-4.64%), lead (-1.98%), and aluminum (-1.70%) being the top three products in terms of decline. This week’s average rise and fall was -0.66%.
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