Lead and Zinc Market: Operating Rates and Price Changes, Different Trends

Author: z Release time: 2024-10-15 08:26:52 View number: 50

SMM research shows that from October 5th to October 11th, the weekly operating rate of primary lead enterprises was 62.78%, an increase of 1.56 percentage points compared to the previous week. The weekly operating rate of recycled lead enterprises was 45.83%, an increase of 5.09 percentage points compared to the previous week. The weekly operating rate of lead-acid battery enterprises was 69.99%, an increase of 19.5 percentage points compared to the previous week. In September 2024, the national electrolytic lead production turned into a downward trend, with a month on month decline of 7.55% and a year-on-year decline of 7.65%. The cumulative production of electrolytic lead from January to September 2024 decreased by 4.5% year-on-year. The average price of SMM1 # lead ingots increased by 0.31% compared to the previous day, and the main force of Shanghai lead closed up 1.21%. It is expected that the electrolytic lead production in October will increase by about 7% compared to the previous month, and the recycled lead refinery will also show a trend of increasing production, with the overall supply side becoming loose. SMM research shows that from October 5th to October 11th, the weekly operating rate of galvanized enterprises was 59.09%, an increase of 8.91 percentage points compared to the previous week; The weekly operating rate of die-casting zinc alloy enterprises was 55.45%, an increase of 8.86 percentage points compared to the previous period; The weekly operating rate of zinc oxide enterprises was 54.25%, a decrease of 1.66 percentage points compared to the previous period. In September 2024, SMM China's refined zinc production increased by over 2% month on month and decreased by over 8% year-on-year, exceeding expectations. The average price of SMM1 # zinc ingots increased by 2.00% compared to the previous day, and the main contract for Shanghai zinc closed up 2.22%. The overall downstream production is weak, and it is expected that the refined zinc production in October will increase by about 1% month on month. After the release of the US CPI data, the expectation of interest rate cuts has once again heated up, and non-ferrous metals have generally turned red. In addition, with frequent favorable policies in China, macro sentiment is generally warm, and lead and zinc prices are fluctuating strongly in the short term.

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Lead and Zinc Market: Operating Rates and Price Changes, Different Trends

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