Social inventories of lead ingots dipped on week

SHANGHAI, August 14(SMM) – Social inventories of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin dipped about 200 mt from the prior week to 36,600 mt in the week ended August 14.

Lead prices trended lower this week, while downstream battery makers restocked on demand amid moderate consumption, depleting stocks at social warehouses in Jiangsu and Zhejiang. Meanwhile, smelters shipped cargoes to warehouses as it approaches the delivery date.  

Social inventories are expected to barely change next week as Henan smelters continue to resume production and secondary lead smelters in Anhui plan to step up production, and downstream users are likely to purchase from the trading market.