SunSirs: On July 12, Both Supply and Demand Increased, and Lead Prices Rebounded
July 13 2022 14:36:33 SunSirs (John)Price trend
On July 12, the quotation range of 1# lead ingots in the domestic spot lead market was around 14,850-14,950 RMB/ton, with an average price of 14,900 RMB/ton, an increase of 150 RMB/ton from the previous trading day.
Analysis review
On the night of the 11th, the US dollar rose sharply, the price of crude oil fell significantly, and the performance of the metal market was mixed. On the whole, there were more weaknesses, and the trend of lead prices was strong. The London lead and Shanghai lead rose more than 1% in the night trading. Shanghai lead continued to rise in early trading, closing up 1.52% by the end of the day.
In terms of supply, the smelter has been overhauled recently, the operating rate has increased, and the supply of lead has been restored. In terms of secondary lead production, Anhui, the main producing area, is affected by electricity restrictions, and the production may decline in the near future, which is beneficial to primary lead. The recent performance of the demand side is still in the off-season, but with the improvement of automobile sales, the recent start of battery companies has increased to a certain extent.
Market outlook
Under the pattern of double increase in supply and demand, it is expected that the lead price will be stable and strong in the future.
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