According to the monitoring of the commodity market analysis system of Shengyi Society, as of February 28th, the price of lead 1 # was 17005 yuan/ton, an increase of 0.21% compared to the lead price of 16070 yuan/ton on February 24th.

This week’s market analysis

This week, the overall lead price remained within a stable range, with a slight upward trend and a significant pullback.

primary lead

Shanghai lead continues the long short game pattern, with prices maintaining a sideways consolidation, and holders continuing to adopt a market driven pricing strategy. During this period, the inventory of pick-up sources in the refinery showed a downward trend, and some enterprises suspended individual quotation and pick-up business, shifting the flow of goods to the direction of social warehouses. Downstream buyers have limited inquiries about the supply of goods from social warehouses, and the focus of market transactions is still mainly on essential orders.

Regenerated lead

With the resumption of production by recyclers, recycled lead smelters have reported an improvement in the arrival of raw materials, resulting in a decrease in the purchase price of waste batteries. It is expected that as the amount of scrapped batteries gradually recovers, the supporting role of waste battery prices on lead prices will become limited. From the perspective of smelting, according to the production schedule of various enterprises, the resumption of production of recycled lead smelters is increasing, and the supply of recycled lead is expected to maintain a growth trend in the short term.

demand side

Recently, multiple recycled lead smelting enterprises have reported good delivery of waste batteries and sufficient inventory of raw materials; In addition, some companies have plans to increase production in March, which may lead to a continued trend of high raw material prices. Currently, the inventory of lead ingots in the factory is gradually decreasing, but the overall inventory level in society is still relatively high. From the perspective of actual demand in the terminal market, after the Spring Festival, although the electric bicycle and car battery markets experienced a period of post holiday replenishment peak, the amount of battery replenishment by dealers has decreased compared to previous years, and procurement behavior appears more scattered, which makes the order growth of production enterprises not significant.

comprehensive analysis

Currently, downstream lead ingot procurement activities are still focused on essential demand, and the overall consumption situation is showing a flat trend. Overall, lead prices may continue to fluctuate in the short term.