Downstream Procurement Decreased at Mid-Year Month-End, Primary Lead Enterprise Inventories Increased [SMM Primary Lead Inventory Weekly Review]

          It is reported that as of June 25, the in-factory inventory of major primary lead delivery brands stood at 22,600 mt, a WoW increase of 15,500 mt.

Recently, production at primary lead smelters has been steadily rising, with supply increasing compared to the period before the Dragon Boat Festival. Currently, at the half-year mark, some large downstream enterprises have closed their books and suspended lead ingot procurement. Even though some downstream enterprises built inventory at low prices as lead prices fell, this did not alter the result of accumulating in-factory inventory at primary lead smelters. Next week, as the factor of large enterprises recalling funds at the half-year mark lifts in July, regular procurement is expected to resume, and in-factory inventory at smelters may face the possibility of destocking.