Price trend

On September 1st, the quotation range for 1# lead ingot in the domestic spot lead market was around 16,400-16,500 RMB/ton, with an average price of 16,450 RMB/ton, an increase of 350 RMB/ton compared to the previous trading day.

Analysis review

On the night of the August 31st, the metal market generally fell, with London Lead Future consistently rising 1.86%. The domestic night market generally fell, with only Shanghai Aluminum Future and Shanghai Lead Future rising, with Shanghai Lead Future leading the rise by 2.3%, hitting a new high of 16,810 RMB/ton in about four years during the trading session. In the morning, Shanghai lead future continued its overnight rise and opened higher, rising more than 3% in the morning. By the end of September 1st, the main 2310 contract of Shanghai lead future closed up 4.47%, leading the domestic metal market to a four-year high. The domestic policy data showed good performance in early trading on September 1st, with the futures market generally rising, driving lead prices to continue to rise. The continued tight supply of recycled lead in fundamentals had also boosted the market to some extent.

Market outlook

In the future, the expectation of "Golden September and Silver October" remains, and lead prices will remain volatile and stronger in the future.

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