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SunSirs: On October 24th, the Domestic Spot Lead Market Price was Lowered

October 25 2023 09:48:54     

The quotation range for lead ingot 1 # in the domestic spot lead market is around 16300-16400 RMB/ton, with an average price of 16350 RMB/ton, a decrease of 50 RMB/ton compared to the previous trading day.

In the early morning trading, the Shanghai lead market slightly declined, and the spot market followed a downward trend. In terms of demand, as the weather turned cold, the traditional seasonal peak season basically ended. However, this year's peak season performance was average, and the overall peak season was not strong. Due to poor sales performance during the peak season and high inventory in the factory, the main focus is still on actively removing inventory. In terms of inventory, LME has accumulated to a new high in the past two years during this cycle, which has a certain impact on market sentiment. Overall, it is expected that lead prices will continue to face significant upward resistance and there may be room for a pullback.

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