Downstream Enterprises’ Purchase Willingness Improved; Secondary Lead Finished Product Inventories Were Drawn Down This Week [SMM Secondary Lead Inventory Weekly Review]

SMM News on August 28:

As of August 27, secondary lead finished product inventories stood at 20,600 mt, down 7,000 mt MoM; this was mainly due to an improvement in operating rates at downstream battery enterprises, an increase in purchasing enthusiasm for lead ingots, and moderate purchase sentiment at the beginning of the week. Looking ahead to next week, tight scrap battery supply will continue to constrain production at smelters in China. If arrivals of imported crude lead improve, this will provide raw material replenishment, and production is expected to be further released, slowing the pace of destocking. In addition, the actual intensity of lead ingot purchases by downstream battery enterprises is also a key focus.