In-Plant Inventory of Deliverable Primary Lead Brands Decreased Last Week

SHANGHAI, Mar 21 (SMM) -According SMM survey, as of March 17, the in-plant inventory of deliverable primary lead brands stood at 2,700 mt, down 700 mt from a week ago. Some primary lead smelters remained in maintenance, and the supply of lead ingots tightened compared with the prior week. At the same time, the maintenance of large-scale secondary lead enterprises continued. The price difference between secondary refined lead and primary lead stood at 50-0 yuan/mt, depriving the first of price advantage. This drove downstream buyers to purchase primary lead.

In-plant inventories of some smelters were transferred to delivery warehouses last week due to the delivery of the SHFE 2303 lead contract. Therefore, in-plant inventories of deliverable primary lead brands fell further.