Post-Holiday Supply and Demand Both Increased, Primary Lead Enterprise Plant Inventory Turned to a Decline [SMM Primary Lead Inventory Weekly Review]

        It was learned that as of March 5, in-factory inventory of primary lead’s major delivery brands stood at 40,600 mt, down 7,700 mt WoW.

This week, some primary lead smelters gradually resumed operations after maintenance, and supply increased WoW. Meanwhile, lead consumption recovered, and downstream enterprises purchased as needed, driving smelters’ in-factory inventory lower. In addition, as some downstream enterprises still held a certain amount of pre-holiday lead inventory, replenishment via spot orders was limited, resulting in relatively slow inventory drawdowns at smelters. Market participants should watch subsequent delivery-related inventory transfers by suppliers to help shift pressure away from in-factory inventory.