As of May 7, the in-factory inventory of major primary lead delivery brands was 20,300 mt, an increase of 5,300 mt WoW.
This week, primary lead smelter production was stable with a slight upward trend. However, due to the Labour Day holiday, downstream enterprises were generally on holiday, leading to a temporary absence of lead consumption. Even though downstream enterprises purchased on demand after the holiday and suppliers transferred lead ingots to delivery warehouses, in-factory inventory of primary lead enterprises still accumulated compared to pre-holiday levels. Next week, as the SHFE lead delivery date approaches, suppliers will continue to transfer lead ingots, and the in-factory inventory pressure on primary lead enterprises is expected to ease going forward.
![Secondary refined lead traded at a discount ex-factory, and enterprises' losses remained hard to reverse [SMM Secondary Refined Lead Weekly Review]](https://imgqn.smm.cn/usercenter/yqTpQ20251217171721.jpeg)
![Domestic Secondary Crude Lead Transactions Follow the Market, Short-Term Inflows of Imported Crude Lead Remain Low [SMM Secondary Crude Lead Weekly Review]](https://imgqn.smm.cn/usercenter/XMxKT20251217171720.jpeg)
![Smelter production cuts limit raw material demand, limiting upside room for scrap batteries [SMM Scrap Battery Weekly Review]](https://imgqn.smm.cn/usercenter/qnyHQ20251217171721.jpeg)
