Operating Rate Declined and Spot Orders Shrank, Secondary Lead Inventory Expected to Turn Lower Next Week [SMM Secondary Lead Inventory Weekly Review]

SMM April 17 News:

As of April 16, secondary lead finished product inventories stood at 18,100 mt, an increase of 400 mt compared to April 9, with the pace of inventory buildup this week slowing down significantly. Dragged by narrowing profits, the willingness to import lead declined, and coupled with weakening smelter operating rates, inventory increments converged notably. Looking ahead to next week, suppliers are expected to maintain firm offers supported by costs, with relatively weak willingness to sell; meanwhile, operating rates will further decline, as enterprises prioritize long-term contract deliveries and spot order supplies shrink, finished product inventories are expected to have a probability of destocking.