Weak Downstream Procurement Triggers Secondary Lead Inventory Buildup, Subsequent Slowdown Expected [SMM Secondary Lead Inventory Weekly Review]

SMM April 10 News:

As of April 9, secondary lead finished product inventories stood at 17,700 mt, an increase of 3,700 mt from April 2, with a slight inventory buildup this week. Amid geopolitical disruptions, lead prices experienced wild swings. Suppliers held prices firm and held back from selling, with poor willingness to sell, while downstream battery enterprises showed low acceptance of high-priced supplies. Coupled with weak end-use consumption and insufficient enthusiasm for spot order procurement, these factors collectively drove inventory buildup. Affected by narrowing profits, the willingness to import lead declined. Combined with downward pressure on secondary lead smelter operating rates next week, the pace of inventory buildup was expected to gradually slow down going forward.

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