According to the Commodity Market Analysis System of Business Society, the TDI price in East China has recently risen first and then fallen. On January 16th, the average market price in East China was 16800 yuan/ton, an increase of 100 yuan/ton compared to the price of 16700 yuan/ton on January 8th, an increase of 0.60%.

Recently, the domestic TDI market has experienced a rise followed by a decline, with price ranges fluctuating. The filling of factory spot goods is slow, and the trading market is observing the guidance of supplier news. Earlier last week, Shanghai Kesichuang TDI execution price was raised, and the prices of holders followed suit. However, downstream follow-up was limited, and the demand in the terminal market was insufficient. The supplier’s mentality was limited, and the operator’s mentality was not good. Under the supply-demand game, the TDI price slightly decreased in the later stage.

The upstream toluene market has slightly increased. On January 16th, the domestic average price of toluene was around 6710 yuan/ton, an increase of 0.45% compared to the price of 6680 yuan/ton on January 8th. The international crude oil prices have fluctuated and risen, with good support from the cost and external prices of toluene. The price of toluene in Asia has rebounded, while domestic production has slightly decreased. The pressure on toluene supply has been alleviated, and downstream demand for toluene is just in demand. The support for toluene is average, and the toluene market has slightly increased.

In the future market analysis, TDI data analysts from Business Society believe that domestic TDI spot filling is slow, factories have a supportive attitude towards the market, and holders are actively shipping, but market trading is limited. Downstream buyers follow up on demand, and there is a lack of positive demand. The market supply and demand are deadlocked, and TDI price fluctuations are limited. Considering that there is stock demand in the downstream before the holiday, it is expected that the TDI market will slightly increase in the later stage. Specific attention will be paid to downstream buyers and the release of market news from suppliers.

Market analysis for this week

This week, the price of magnesium ingots remained weak and stable, with little change in the supply and demand pattern. The actual market transactions were average. According to the Commodity Market Analysis System of Business Society, as of January 12th, the average price of domestic magnesium ingots in the market was 20566.67 yuan/ton, a decrease of 0.16% compared to the previous week.

In terms of supply and demand

In terms of factories, production has increased, coupled with weak downstream demand, which is mainly based on rigid demand. Some downstream enterprises have also stopped production and had a holiday early during the Spring Festival; The overseas situation is tightening, and some customers are delaying procurement, resulting in increased inventory pressure. Overall, the imbalance between supply and demand in the magnesium market is difficult to improve in the short term, and the market has a strong bearish sentiment.

In terms of raw materials

This week, the market price of ferrosilicon in Ningxia was around 6500-6600 yuan/ton, with an average market price of 6571 yuan/ton, a decrease of 1.03%. At present, due to the continuous decline in the market, coupled with the influence of the “buy up not buy down” sentiment and the lack of optimism about the future market, the overall wait-and-see atmosphere in the ferrosilicon market is relatively strong, and the actual operating situation is cold.

This week, the blue charcoal market was operating weakly. Mainstream calcium carbide enterprises in Inner Mongolia have lowered the purchase prices of small and medium-sized materials by 30-40 yuan/ton, and some enterprises have lowered their blue charcoal quotations by 30 yuan/ton. Although coal tar prices can provide some profit subsidies to blue charcoal enterprises, it is difficult to reverse the situation of enterprise losses, and the blue charcoal market is operating weakly in the short term. As of January 12th, the mainstream prices of small and medium-sized materials in the Shenmu market are 980-1160 yuan/ton, and the coke surface is 680-750 yuan/ton; The mainstream price of small and medium-sized materials in the Fugu market is 1000-1200 yuan/ton, and the coke surface is 700-750 yuan/ton.

Future Market Forecast

Overall, there has been no significant improvement in the supply and demand fundamentals of the magnesium market, and downstream demand remains weak and sluggish. Considering that the price of magnesium ingots is close to the production cost line, coupled with support from raw material costs, there is limited room for exploration. It is expected that the bottom range of magnesium ingot prices will remain stable in the short term.

According to the monitoring of the commodity market analysis system of Business Society, the 1 # tin ingot market in East China fell first and then rose this week (1.8-1.15). The average market price at the beginning of last week was 205910 yuan/ton, while the average market price at the beginning of this week was 209610 yuan/ton, with a weekly increase of 1.8%.

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 represents the range of fluctuations. From the monthly K-bar chart, it can be seen that after November 2022, tin prices have been continuously rising for three months due to macroeconomic factors. Since February 2023, prices have fallen by 11.35% in a single month, and the trend of tin prices has fluctuated narrowly in the past three months. From the weekly K-bar chart, it can be seen that the tin ingot market has seen more ups and downs in recent times.

In terms of the futures market, the market fell first and then rose during the cycle. Under the influence of declining inventory data, Shanghai tin rose significantly. On the 12th, Shanghai tin closed rapidly in the night trading session, and spot market prices followed suit with a significant increase. As prices rose, the enthusiasm for spot market inquiries significantly declined, downstream purchasing intentions were weak, and market trading significantly turned cold. From the perspective of supply and demand, companies that underwent early maintenance have plans to resume work in the near future, but the overall operating rate remains low this week, and the overall supply of tin ingots remains tight. In terms of demand, downstream enterprises generally have stocking plans as the Spring Festival approaches. Therefore, recent market transactions have significantly improved, which has also led to a significant decline in domestic inventory and heated up the domestic market atmosphere. Overall, the downstream demand is currently good, but with the rise of market prices, the willingness to receive goods from downstream has significantly declined. With the commencement of subsequent equipment construction, the tight supply situation will be improved to some extent. It is expected that the tin ingot market will continue to face significant upward pressure in the short term, with a stable and strong trend as the main trend.

Related data:

On January 14th, the tin commodity index was 105.27, unchanged from yesterday, a decrease of 43.92% from the highest point in the cycle of 187.70 points (2022-03-09), and an increase of 145.61% from the lowest point of 42.86 points on December 9th, 2015. (Note: The cycle refers to 2011-09-01 present).

On January 14th, the base metal index was 1166 points, unchanged from yesterday, a decrease of 27.85% from the highest point in the cycle of 1616 points (2022-03-09), and an increase of 81.62% from the lowest point of 642 points on November 24th, 2015. (Note: The cycle refers to 2011-12-01 present).

On January 14th, the non-ferrous index was at 1096 points, unchanged from yesterday, a decrease of 28.74% from the highest point in the cycle of 1538 points (2021-10-18), and an increase of 80.56% 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 second week of 2024 (1.8-1.12), there were a total of 5 commodities in the non-ferrous sector that showed a month on month increase in commodity prices. The top 3 commodities with the highest increase were nickel (3.90%), antimony (3.25%), and lead (2.16%). There are a total of 15 products with a month on month decline, and 4 products with a decline of more than 5%, accounting for 16.7% of the monitored products in this sector; The top three products with a decline were dysprosium iron alloy (-14.09%), dysprosium oxide (-13.71%), and metallic dysprosium (-13.33%). The average increase and decrease this week is -2.45%.

Price trend

Recently, the domestic ABS market has remained stable with minor fluctuations, and spot prices of various brands have adjusted narrowly. According to the Commodity Market Analysis System of Business Society, as of January 12th, the average price of ABS sample products was 10662.5 yuan/ton, which is the same as the average price level at the beginning of the month.

Cause analysis

In terms of supply: In the early stage, the domestic ABS industry had a high load, and due to supply pressure, some enterprises had a reduced load. This week, the operating rate of ABS aggregation enterprises has been lowered to below 68%, resulting in stable production and a decrease in inventory due to factory destocking operations. However, the improvement of the company’s profit situation is limited, and there is still pressure on the supply side.

In terms of raw materials, the overall trend of ABS upstream three materials this week is average, with a significant decline in the acrylonitrile market. The narrow increase in raw material propylene prices has limited support for the cost of acrylonitrile. This week, the supply of acrylonitrile is relatively loose, and downstream enterprises have poor stocking enthusiasm. The weak operation may continue in the future.

The atmosphere of the domestic butadiene market has warmed up this week. Although the downstream synthetic rubber market is weak and declining, and some industries are still operating weakly, the demand news has brought a significant drag on the spot market of butadiene. However, the domestic market is strong both inside and outside the week, and domestic sources are actively engaged in export negotiations. This news has boosted the spot market in the middle and later stages of the week.

From the chart below, it can be seen that the styrene market price has slightly increased this week. Although some ports have concentrated cargo arrivals, there has been an accumulation of port inventory. But downstream demand continues to follow, while upstream crude oil has recently risen in the far end, with strong cost support and a rebound in the market.

In terms of demand: This week, the main ABS terminals, including downstream factories in the home appliance industry, have continued to have poor stocking enthusiasm. The main logic revolves around buying on dips and digesting inventory. As the holiday approaches, downstream enterprises have increased their holiday arrangements, and their procurement operations tend to be weak, with a strong demand to maintain production, making it difficult to increase demand. Mid stream traders are offering discounts and taking orders, resulting in slow spot circulation and dragging down the market.

Future Market Forecast

This week, the overall performance of ABS upstream materials was average, with limited support for the cost side of ABS. The start of petrochemical plants has been lowered to alleviate some supply pressures. The demand side consumption is poor, and merchants have weak confidence in the future market. The current market trading is light, and the pre holiday market is heavy. It is expected that the ABS market will remain weak.

1、 Price trend

According to the Commodity Market Analysis System of Business Society, the average market price of 55% powdered ammonium phosphate in China was 3370 yuan/ton on January 1st, and 3303 yuan/ton on January 5th. This week, the market price of 55% powdered ammonium phosphate decreased by 0.95%.

According to the Commodity Market Analysis System of Business Society, the average market price of 64% diammonium phosphate in China was 4040 yuan/ton on January 1st, and 4003 yuan/ton on January 5th. This week, the market price of diammonium phosphate decreased by 0.91%.

2、 Market analysis

The market price of ammonium phosphate has fallen this week. The price of raw material phosphate ore has increased, the price of raw material sulfur has decreased, and the cost side has fluctuated. Overall, there is still support. At present, the operating rate of ammonium phosphate enterprises is declining, the market transaction atmosphere is weak, and downstream procurement enthusiasm is not high, with a mainly wait-and-see attitude. As of January 5th, the market price of 55 powder ammonium in Hubei region is about 3260 yuan/ton, and the factory price of 55 powder ammonium in Henan region is about 3300 yuan/ton, with actual negotiations being the main focus. The outbound price of 64% diammonium in Shandong region is around 3920-4100 yuan/ton, and the outbound price of 57% diammonium is around 3650-3750 yuan/ton. The actual transaction is negotiable.

In terms of raw material sulfur, domestic sulfur prices have fallen this week. The end consumer market is coming to an end, downstream procurement enthusiasm is weakening, and most factories are mainly based on demand, resulting in a sluggish market trading atmosphere. Part of the refineries in Shandong region have experienced a load increase, leading to an increase in factory inventory and sufficient supply of goods in the market. At the same time, there is a high expectation of goods arriving at the port this month, resulting in a strong bearish sentiment in the market. As a result, the sulfur prices of refineries have been continuously lowered. As of January 5th, the mainstream price of solid sulfur in refineries in Shandong region is around 950-1040 yuan/ton, and the mainstream price of liquid sulfur is between 900-1130 yuan/ton.

In terms of raw material phosphate ore. This week, the domestic phosphate ore market has seen an overall upward trend. After New Year’s Day, the trading atmosphere in the domestic phosphate ore market is mild, and downstream demand for procurement and stocking is high. After the holiday, some mining enterprises in certain regions of Sichuan and Guangxi in China will implement new prices for new orders, increasing the prices of mid to high-end grade phosphate ore by about 10-30 yuan/ton. The phosphate ore market in Guizhou and Yunnan regions continues to operate steadily. At present, the supply of phosphate ore in some regions continues to be tight, and the on-site spot circulation is tight. As of January 5th, the domestic market price for 30 grade phosphate ore is around 1030-1100 yuan/ton.

3、 Future Market Forecast

According to analysts from Business Society, the trading atmosphere in the ammonium phosphate market has been lukewarm recently, with fewer market inquiries. The winter storage market is poor, and the demand side continues to be sluggish. The overall market is weak and it is difficult to improve in the short term. It is expected that the short-term ammonium phosphate market will be weak and mainly downward.

According to the Commodity Market Analysis System of Business Society, the prices of heavy rare earths in the domestic market have significantly decreased, while the prices of light rare earths have continued to decline. The rare earth index reached 433 points on the 7th, a decrease of 57.00% from the highest point of 1007 points in the cycle (2022-02-24), and an increase of 59.78% from the lowest point of 271 points on September 13, 2015. (Note: The cycle refers to 2011-12-01 present)

The price trend of domestic dysprosium oxide, dysprosium iron alloy, and metallic dysprosium has significantly declined. As of the 8th, the price of dysprosium oxide was 2.225 million yuan/ton, and the post holiday price has decreased by 10.28%; The price of dysprosium ferroalloy was 2.235 million yuan/ton, a decrease of 9.51% in price; The price of dysprosium metal is 2.775 million yuan/ton, with a price decline of 12.60%; The domestic price of terbium series has declined, with the domestic price of terbium oxide at 6.8 million yuan/ton and the price of metallic terbium at 8.7 million yuan/ton.

In recent times, the price trend of heavy rare earth market has fallen, with limited transactions in the rare earth market, scarce new orders, and low purchasing willingness of enterprises. Some enterprises have recently lowered their negative guarantee prices, putting pressure on metal spot transactions. Downstream magnetic material enterprises have seen a decline in production, with only 30% of them operating. The overall production of the magnetic material industry is around 50%, mainly driven by inventory consumption. In addition, the procurement of waste recycling is not active, and the overall market support is insufficient. The pessimistic sentiment has intensified, and the trend of the heavy rare earth market has significantly declined. In 2023, the total control indicators of the third batch of rare earth mining, smelting and separation will be 15000 tons and 13850 tons respectively. Generally, two batches of indicators will be published every year. In 2023, the third batch of indicators will be published, and the mining output will increase, which will be bad for the domestic rare earth market.

According to statistics, the production of new energy vehicles in November 2023 was 1.074 million units, with sales of 1.026 million units, a year-on-year increase of 39.2% and 30%. From January to November 2023, the production and sales of new energy vehicles in China reached 8.426 million and 8.34 million, respectively, with a year-on-year increase of 34.5% and 36.7%, and a market share of 30.8%. In 2023, the production and sales of new energy continue to rise, and the increase in production and sales of new energy vehicles still provides support for the rare earth market.

After years of governance, the domestic rare earth industry has gradually formed a supply pattern dominated by large groups and relatively concentrated raw materials. With the continuous development of the foreign rare earth industry, China’s share of rare earth production has declined from 90% to 70%. According to statistics, China’s rare earth exports in November were 4205.8 tons; The cumulative total export volume of rare earths from China from January to November was 48867.7 tons, a year-on-year increase of 10%. The corresponding increase in export volume supported the prices of some products, but poor domestic demand led to a sustained decline in the rare earth market.

Market forecast: In the near future, the purchasing sentiment of magnetic material enterprises has been sluggish, and the situation of new orders is quiet. It is expected that the rare earth market prices will mainly decline in the short term. In the long run, the trend of long-term growth in demand for industrial robots, new energy vehicles, wind turbines and other terminals remains unchanged. High performance neodymium iron boron permanent magnets are expected to continue to increase in terminal penetration rate, which is conducive to the long-term stable development of the rare earth industry.

According to monitoring data from Business Society, as of January 5, 2024, the reference market price of domestically produced industrial grade propylene glycol was 8233 yuan/ton. Compared with January 1 (reference price of propylene glycol was 8300 yuan/ton), the price decreased by 67 yuan/ton, a decrease of 0.80%.

From the monitoring chart of Business Society data, it can be seen that this week (1.1-1.5), the overall domestic propylene glycol market showed a weak downward trend. Affected by the operation of propylene glycol units in some regions of China, the overall supply side production of propylene glycol has increased. Starting from the beginning of this week, the propylene glycol market has been weakly consolidating and operating, with a weak atmosphere in the market. New orders for propylene glycol have not been well executed, and the supply-demand contradiction has gradually emerged. Over the weekend, some propylene glycol factories and suppliers are under pressure to lower the price of propylene glycol, with a reduction of 100-200 yuan/ton. As of January 5th, the domestic propylene glycol market price reference is around 8100-8300 yuan/ton.

Market analysis of propylene glycol

At present, the inquiry atmosphere in the propylene glycol market is lukewarm, and the mentality of propylene glycol operators is average. Downstream wait-and-see sentiment is gradually increasing. The propylene glycol data analyst from Shengyi Society believes that in the short term, the domestic propylene glycol market will mainly adjust in a narrow range, and the specific trend still needs to pay more attention to changes in supply and demand news.

Price trend

In December, the domestic EVA market experienced a significant decline, with spot prices falling and then trading sideways. According to the Commodity Market Analysis System of Shengyishe, as of December 29th, the benchmark price of EVA in China was 11433.33 yuan/ton, a decrease of 6.54% from the beginning of the month.

Cause analysis

The domestic EVA market saw a decline in prices this month. On the supply side, the load level of domestic EVA enterprises continues to rise. The operating rate fluctuated from 80% at the beginning of the month to nearly 90% at the end of the month, and the market supply remained abundant. The maintenance plan for future equipment is insufficient, and the mentality of petrochemical plants is weak. The overall inventory position of EVA is on the rise, and the end of month merchants tend to offer at a discounted price. Recently, EVA suppliers have shown poor support for spot goods. Upstream ethylene levels out, while vinyl acetate tends to be stronger, providing decent cost support for EVA.

The weak demand side performance of EVA this month continues. The new quarter orders for foam shoe materials in the early stage have played a role in driving investment, and the purchasing level of photovoltaic enterprises is lower than expected. On exchange trading is concentrated on low-end offers, and the logic of buyers buying on dips remains unchanged. Lack of market buying sentiment and resistance to the return of high priced goods. The overall stocking operation on the market places orders as needed, and the acceptance of high priced goods by enterprises is average. Prices are deadlocked due to market pull from different directions.

Future Market Forecast

Overall, the decline in EVA prices in December was concentrated in the middle of the month. The raw material market provides moderate support for EVA spot prices. The industry load has increased at a high level, and downstream demand is weak. The confidence of business owners has weakened, and the profitability of enterprises has significantly declined. As the end of the year approaches, the expectation for increased consumption in the future is relatively low, and the market is unable to change the bearish guidance situation. It is expected that the EVA market will remain stagnant and consolidating in the short term.

According to the Commodity Market Analysis System of Business Society, sulfur prices in East China fluctuated in December. On December 29th, the average ex factory price of sulfur in the East China region was 1066.67 yuan/ton, an increase of 0.63% compared to the average ex factory price of 1060.00 yuan/ton at the beginning of the month.

This month, the sulfur market in East China has been fluctuating, with weak trading in the terminal market. Downstream and trading demand has continued to be weak, resulting in limited sulfur procurement. The fluctuation of sulfur prices is mostly affected by changes in market supply. In the first half of the year, refinery inventories remained low, downstream demand was average, market supply and demand were relatively balanced, and sulfur prices remained stable; In the middle of the month, the Shandong region was affected by the weather, and it was unable to unload goods on time upon arrival at the port. As a result, the market supply of goods has tightened, and the price of sulfur has risen slightly; In the latter half of the year, some refineries in Shandong region experienced a load increase, leading to an increase in factory inventory and a strong intention to discharge inventory. However, due to insufficient downstream follow-up, sulfur prices continued to decline.

The downstream sulfuric acid market continued to decline in December, with a market price of 302.00 yuan/ton at the beginning of the month and 274.00 yuan/ton at the end of the month, a decrease of 9.27% within the month. Mainstream sulfuric acid manufacturers have shown sufficient supply performance within the month, with strong shipping intentions from enterprises and weak downstream demand. They mainly focus on digesting early inventory, limited procurement of sulfuric acid, and insufficient shipments from acid companies, resulting in a weak downward trend in sulfuric acid prices.

The market trend of ammonium phosphate in December has been consolidating and declining, with a weakening of the terminal phosphate fertilizer market, a decrease in downstream procurement inquiries, insufficient follow-up of new orders, increased sales pressure on manufacturers, and weak price reductions. As of December 29th, the average market price of 55% powdered ammonium phosphate is 3370.00 yuan/ton, which is a 3.71% decrease from the average price of 3500.00 yuan/ton on December 1st.

In the future market forecast, sulfur analysts from Business Society believe that sulfur enterprises are operating normally, market supply is stable, terminal procurement is weakening, downstream factories and traders follow up as needed, market trading atmosphere is weak, and there is a lack of effective support on the market. Under the supply-demand game, it is expected that the sulfur sulfur market will be weak and consolidate in the later stage.

According to the commodity market analysis system of Business Society, in December 2023, the domestic 1 # lead ingot market first fell and then rose. The average price in the domestic market was 15840 yuan/ton at the beginning of the month, 15695 yuan/ton at the end of the month, a monthly decrease of 0.92%.

On December 27th, the lead commodity index was 95.00, an increase of 0.03 points from yesterday, a decrease of 29.11% from the highest point in the cycle of 134.01 points (2016-11-29), and an increase of 27.29% from the lowest point of 74.63 points on March 19, 2015. (Note: The cycle refers to 2011-09-01 present).

On December 27th, the base metal index was 1171 points, an increase of 6 points from yesterday, a decrease of 27.54% from the highest point in the cycle of 1616 points (2022-03-09), and an increase of 82.40% from the lowest point of 642 points on November 24, 2015. (Note: The cycle refers to 2011-12-01 present).

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 represents the range of fluctuations. After the decline in lead prices in January 2023, the trend in the first half of the year was somewhat volatile. June August was the peak season of the season, and it continued to decline after September. Judging from the weekly trend, there is more decline than increase.

At the beginning of the month, the futures market was weakly affected by funds, and the trend of Shanghai lead basically returned to the fundamentals. Under the influence of the seasonal off-season in the market, the overall decline of Shanghai lead was affected. During the same period, LME lead inventory has risen to a high of 140000 tons, putting significant pressure on the market and dragging down market sentiment. In terms of supply and demand, enterprises that underwent maintenance in early December resumed work, and the supply of lead ingots in the market is expected to improve. In terms of demand, downstream enthusiasm is relatively strong in the off-season atmosphere, and the battery industry is mainly actively destocking. The demand for automotive batteries is stable, but the overall operation of electric bicycle batteries is weak, and the overall demand is still weak. The market experienced a broad decline due to the impact of low demand season and high inventory. Towards the end of the month, the Federal Reserve released a signal of monetary easing, leading to a general strengthening of base metals and a slight increase in lead prices in Shanghai. However, the supply and demand side is still in a seasonal off-season, and the recent market trend has been greatly affected by fundamentals. Overall, the lead ingot market is still under pressure under the influence of terminal demand off-season and high inventory. It is expected that the market will continue to operate weakly, and we will continue to pay attention to the macro impact in the future.

Related data:

In November 2023, China’s automobile production and sales reached 3.093 million and 2.97 million respectively, with year-on-year growth of 29.4% and 27.4%. Among them, the production and sales of new energy vehicles reached 1.074 million and 1.026 million respectively, with year-on-year growth of 39.2% and 30%.

On December 18th, the National Bureau of Statistics released data showing that the national lead production in November 2023 was 653000 tons, a year-on-year decrease of 3%.

According to data from the International Lead and Zinc Research Group (ILZSG) on December 21, the global lead market supply gap narrowed to 13800 tons in October 2023 and 16100 tons in September; From January to October 2023, there was an oversupply of 40000 tons in the global lead market, and from January to October 2023, there was a shortage of 213000 tons in the global lead market.

According to data from the General Administration of Customs, the import volume of refined lead (including unrefined refined lead) in China in November 2023 was 20.75 tons, a decrease of 64.6% month on month and 51.5% year-on-year.

The latest report released by the World Bureau of Metals Statistics (WBMS) on December 13 shows that from January to October 2023, global refined lead production was 12.2557 million tons, consumption was 12.2826 million tons, and supply was 26900 tons short. From January to October 2023, the global lead ore production was 4.1682 million tons. In October 2023, the global refined lead production was 1.2428 million tons, with a consumption of 1.2561 million tons and a supply shortage of 13300 tons. In October 2023, the global lead ore production was 434700 tons.

According to data from the International Lead and Zinc Research Group (ILZSG) on December 21, the global lead market supply gap narrowed to 13800 tons in October 2023 and 16100 tons in September; From January to October 2023, there was an oversupply of 40000 tons in the global lead market, and from January to October 2023, there was a shortage of 213000 tons in the global lead market.

According to data from the General Administration of Customs, the import volume of refined lead (including unrefined refined lead) in China in November 2023 was 20.75 tons, a decrease of 64.6% month on month and 51.5% year-on-year.

The latest report released by the World Bureau of Metals Statistics (WBMS) on December 13 shows that from January to October 2023, global refined lead production was 12.2557 million tons, consumption was 12.2826 million tons, and supply was 26900 tons short. From January to October 2023, the global lead ore production was 4.1682 million tons. In October 2023, the global refined lead production was 1.2428 million tons, with a consumption of 1.2561 million tons and a supply shortage of 13300 tons. In October 2023, the global lead ore production was 434700 tons.