Social Inventory of Lead Ingots Diverged across South and North China amid Maintenance

SHANGHAI, Feb 27 (SMM) - SMM lead ingot social inventory across five major markets in China totalled 53,600 mt as of February 27, down 1,300 mt from last Friday and down 27,400 mt from February 20. 
According to research, due to the maintenance, the supply of lead ingots differed between the north and the south. In particular, the supply in the south China market was relatively tight, while the market demand for electric bicycle battery was still strong. Among them, in Jiangxi and other main production areas, downstream enterprises purchased as needed while some enterprises purchased from social warehouses. In addition, at the end of February, the procurement activity of downstream enterprises has decreased compared with last week, and the follow-up demand may be released in the form of long-term orders. The lead ingot social inventory is unlikely to fall sharply.