Downstream Enterprises Bought the Dip, and Primary Lead Enterprise Plant Inventory Continued to Decline [SMM Weekly Review of Primary Lead Inventory]

          It was learned that as of March 26, in-factory inventory of major delivery brands of primary lead stood at 16,600 mt, down 6,800 mt WoW.

This week, lead prices remained in the doldrums. Some large downstream enterprises purchased as needed, while suppliers were also actively making shipments. During the week, spot order quotations in major producing areas were at discounts of 50 yuan/mt to premiums of 50 yuan/mt against the SMM #1 lead average price, ex-factory, and in-factory inventory at smelters continued to decline. However, it is worth noting that more secondary lead smelters in north China resumed or increased production, and with imported lead flowing in, supply in the spot market was relatively ample, so the decline in inventory at primary lead smelters may slow down later.