On the 22nd, the quotation range of lead ingot in domestic spot lead market was about 15050-15150 yuan / ton, with an average price of 15100 yuan / ton, up 250 yuan / ton from the previous trading day. On the evening of the 19th, Shanghai lead continued to strengthen under the double positive effects of the domestic macroeconomic data and the decline of lead ingot inventory. Shanghai lead continued to rise at the opening of the 22nd and ended up 350 yuan / ton, or 2.36%.

In terms of inventory, Shanghai Futures lead inventory on the 19th was 50656 tons, down 7414 tons, while the social inventory of lead ingots also decreased by about 2400 tons compared with the same period last week. The spot market is driven by the rise of futures prices, but the overall trading situation is not ideal. The downstream market is mainly wait-and-see, and the market trading is mainly medium and long-term just need customers, so it is difficult to find loose orders.

The ex factory offer of smelters followed the upward trend, but the range was small, far lower than the futures market, and the shipping intention was still positive. Market traders responded that today’s shipping pressure is greater, the downstream is still in the off-season of consumption, the demand for lead ingots is relatively stable, the price is rising, the market inquiry turns light, and the trading is cold. In the future, in the case of no obvious improvement in downstream demand, there is a certain resistance to the upward price of lead ingot, which is expected to be mainly shock consolidation.