Supply Tightens vs. Weak Consumption, Primary Lead Enterprises’ Plant Inventory Destocking Slow [SMM Primary Lead Inventory Weekly Review]

          It is understood that as of August 13, in-factory inventory of major primary lead delivery brands stood at 20,900 mt, down 1,300 mt WoW.

As some primary lead smelters underwent maintenance, regional supply of lead ingot tightened somewhat, and with some cargo moving into the market, smelters' in-factory inventory pressure eased. However, lead prices trended upward overall this week; downstream enterprises were wary of high prices and stayed on the sidelines, making cautious purchases. Spot market transactions were lackluster, and inventory destocking at primary lead smelters was limited. In addition, as lead prices rebounded, losses at secondary lead enterprises gradually narrowed, and some enterprises showed signs of resuming production, which diverted some downstream just-in-time procurement and also somewhat constrained inventory destocking at primary lead smelters.