This week, the lead market (7.14-7.21) fell first and then rose, showing an overall upward trend. The average price in the domestic market was 15575 yuan/ton at the beginning of last week, and 15670 yuan/ton at the beginning of this week, up 0.61%.

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, with recent market trends showing volatility, and the lead ingot market experiencing mixed gains and losses.

In terms of the futures market, the overall strength of Shanghai lead this week has been fluctuating. On the macro level, the yuan index rebounded and closed four consecutive positive days. The performance of US employment data is still good, and the metal market has generally fluctuated in a narrow range this week. Fundamentally speaking, as the weather turns hot, smelting enterprises in major production areas such as Henan and Anhui have recently started operating on a low level, with some areas experiencing a tight supply of lead ingots. In terms of demand, as we enter late July, downstream storage orders are starting to improve, showing signs of gradually entering the peak season, and market expectations are gradually improving. Overall, the downstream peak season factors are beginning to emerge, and the market is expected to improve. However, in the short term, the trend will still follow macro fluctuations, and the market is looking forward to a recovery in downstream demand in August.

On July 23, the base metal index stood at 1214 points, unchanged from yesterday, a decrease of 24.88% from the cycle’s highest point of 1616 points (2022-03-09), and an increase of 89.10% from the lowest point of 642 points on November 24, 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 12 commodities in the non-ferrous sector on the list of commodity prices rising and falling in the 29th week of 2023 (7.17-7.21), of which 3 commodities increased by more than 5%, accounting for 13% of the monitored commodities in this sector; The top three commodities in terms of increase were dysprosium metal (7.01%), dysprosium iron alloy (6.30%) and Dysprosium(III) oxide (6.02%). There are a total of 7 products that have decreased compared to the previous month, with cobalt (-3.55%), copper (-1.09%), and antimony (-0.98%) being the top 3 products in terms of decline. This week’s average increase or decrease was 0.95%.