Lead Ingot Social Inventory Down 4,300 mt over Weekend

SHANGHAI, Nov 29 (SMM) – The social inventory of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin decreased 4,300 mt from November 26 and 19,500 mt from November 22 to 134,900 mt as of November 29.

The large secondary lead smelters in Anhui, Jiangsu, and Inner Mongolia continued to conduct maintenance and technical upgrade, and some deliverable primary lead brands were also under maintenance. The lead ingot supply remained tight in some regions. Meanwhile, the downstream companies increased production steadily, which further consumed the lead stocks in surrounding areas.

SMM will continue to monitor the impact of production resumption on inventories.