According to the Commodity Market Analysis System of Shengyi Society, the domestic 1 # lead ingot market rose in November 2024, with an average price of 16460 yuan/ton at the beginning of the month and 17165 yuan/ton at the end of the month, a monthly increase of 4.28%.
On December 3rd, the lead commodity index was 105.68, up 0.91 points from yesterday, down 21.14% from the highest point of 134.01 points during the cycle (2016-11-29), and up 41.61% from the lowest point of 74.63 points on March 19th, 2015. (Note: The cycle refers to the period from September 1, 2011 to present)
K-bar chart of commodity prices, using the concept of price trend K-line, in the form of a bar chart, reflects the weekly or monthly price changes. Investors can make buying and selling investments based on the changes in the K-bar chart. Red indicates an increase; Green indicates a decline; The height of the K-pillar represents the range of rise and fall. After the lead price rose in January 2024, the trend in the first half of the year was strong and volatile. It continued to rise from March to July, and after a correction from August to October, it resumed its upward trend at the end of the year due to tight spot prices. Looking at the weekly trend, there is a split of gains and losses.
The lead ingot market rose strongly in the first half of November, followed by a short-term correction and stabilization. In the second half of the month, the market continued to consolidate and rise, with an overall upward trend.
On the raw material side, the price of lead concentrate has increased. On the refining end, some smelters have reduced production due to environmental inspections. For example, a refinery in Anhui is expected to reduce production by about 1000 tons, and a refinery in Yunnan is expected to reduce production by 20%. Multiple domestic refineries are facing tight supply of maintenance and spot goods. In terms of new production, Qinghai Refinery has plans to increase production.
On the supply and demand side, the total supply of lead ingots decreased year-on-year, reflecting a certain degree of weak consumption. Recently, some lead-acid battery companies have plans to reduce production, and the impact needs further observation.
Overall, the lead market supply in November 2024 was affected by production cuts, resulting in weak demand. However, the international market demand was good, leading to a slight increase in prices. Expected to maintain a high level of operation in the short term.
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