SMM Lead Morning Meeting: March Outlook Shows Rising Supply & Demand, Inventory Hits 3-Month High

Published: Feb 28, 2025 08:59

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[SMM Lead Morning Meeting Summary: March Lead Market Supply and Demand Expected to Increase, Especially with New and Resumed Secondary Lead Capacity Gradually Releasing]... Recently, with the resolution of factors such as maintenance, the supply of primary lead and secondary lead has increased, while the demand in the lead-acid battery sector has shown relatively small marginal changes. Spot market circulation of goods remains relatively ample, and spot transactions are generally conducted at a discount. Due to the significant spread between futures and spot prices, suppliers have concentrated on picking up goods for transfer to delivery warehouses, leading to a shift of in-plant inventory from smelters to social warehouses. As a result, the total social inventory has climbed again, reaching a three-month high. Additionally, entering March, with the Chinese New Year holiday factors subsiding, the lead market supply and demand are expected to increase simultaneously...

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