On November 10, the quotation range of 1 # lead ingot in the domestic spot lead market was about 15,300-15,400 RMB/ton, with an average price of 15,350 RMB/ton, 175 RMB/ton higher than the previous trading day.
On the 9th night, the US dollar continued to rise, closing up 0.73%. The metal market generally fell under pressure, with only Shanghai Nickel and Shanghai Lead rising. In night trading, Shanghai Lead rose 1.7% and London Lead rose 0.41%. In the morning trading today, Shanghai Lead continued to rise, and the domestic market continued to rise.
Analysis review
In terms of fundamentals, the import of the ore end in terms of supply was not as good as the market expectation, the overall supply was still tight, and the overall operating rate of domestic production enterprises had slightly increased.
The production of renewable lead enterprises was good in the near future, and the resumption of production was active, and the overall supply of lead was slightly improved. The production of downstream battery enterprises has been good since the peak season. As the downstream gradually enters the end of the peak season, the demand for lead is expected to decline.
Market outlook
To sum up, the supply and demand of lead in the current fundamentals have increased, the market peak season is expected to remain, and the trading and investment is still fair. Although the downstream peak season is coming to an end, the lead ingot export situation is relatively good recently, and the market has a strong expectation of future export. On the whole, the positive factors in the lead ingot market prevail, and it is expected that the future market will remain stable and strong.
