This week, the lead market (3.3-3.10) rose first, then fell, and fell overall. The average price of the domestic market was 15125 yuan/ton at the end of last week and 15085 yuan/ton at the end of this week, down 0.26%.

The commodity price K-bar chart uses the concept of price trend K-line to reflect the weekly or monthly price changes in the form of bar chart. Investors can buy and sell investments according to the changes in the K-bar chart. Red indicates: rising; Green means: down; The height of the K column indicates the range of rise and fall. Since the market entered September, the expectation of downstream battery enterprises in the peak season has increased, driving the price of primary lead to rise. After the end of the peak season, the price continued to weaken, and the price rose slightly after the holiday.

In terms of futures market, Lun-lead fell as a whole this week, with the shock range of USD 2050-2150/ton. LME inventory increased by 200 tons this week, and Lun-lead support weakened. From the macro point of view, the expectation of the Federal Reserve to raise interest rates this week further increased, the metal market was generally under pressure, and the lead price fell. Shanghai lead fluctuated this week, with the main operating range of 15150-15350 yuan/ton.

The trend of the spot market this week was basically the same as that of Shanghai Lead, which rose first and then fell. On the supply side, the operating rate of primary lead increased slightly this week, and some maintenance plants resumed work this week. In terms of demand, the downstream is still in the off-season, the operating rate has declined slightly recently, the purchase intention of the storage enterprises is slightly low, the inventory is mainly accumulated as a whole, and the downstream maintains the purchase in demand. In general, the lead ingot market is still weak. It is expected that the future market will remain volatile and weak, and the market fluctuation in the off-season will still follow the macro factors.

The base metal index stood at 1203 points on March 11, which was the same as yesterday, down 25.56% from the highest point of 1616 points in the cycle (2022-03-09), and up 87.38% from the lowest point of 642 points on November 24, 2015. (Note: the period refers to 2011-12-01 to now).

According to the price monitoring of the Business Agency, in the list of commodity prices rising and falling in the 10th week of 2023 (3.6-3.10), there was a total of 1 commodity in the non-ferrous sector, with cobalt (2.33%) rising. There are 16 commodities with a month-on-month decline and 1 commodity with a decline of more than 5%, accounting for 4.3% of the monitored commodities in this sector; The top three products falling were tin (-5.39%), nickel (-4.47%) and silver (-3.72%). This week’s average rise and fall was -1.33%.