Price trend

On January 11, the quotation range of 1# lead ingot in the domestic spot lead market was about 15,250-15,400 RMB/ton, with an average price of 15,325 RMB/ton, down 125 RMB/ton from the previous trading day.

Analysis review

Recently, the lead price declined as a whole. Although the price declined, the market trading was still weak near the Spring Festival, and there was no demand for bargain-hunting and replenishment in the market.

Basically, lead had not changed much and remained in the off-season market. In terms of supply, some primary lead enterprises resumed production and some stopped production, and the overall operating rate increased slightly. In terms of downstream demand, after the weather turned cold, battery manufacturers entered the seasonal off-season, the domestic market was approaching the Spring Festival holiday, and the pre-holiday reserve warehouse was almost at an end. Battery enterprises began to enter the holiday, with a significant decline in the operating rate and a decline in the demand for lead ingots. Recently, the market price continued to decline, the domestic inventory was in the accumulation stage, and the market transaction was cold.

Market outlook

In general, the lead ingot market entered a seasonal off-season, with weak supply and demand. In the short term, the trend continues to follow the macro factors, and there is still some room for decline in the long term.

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