Lead Ingot Inventories in Social Warehouses Reverse Trend, Rising Amid Weak Prices and Shifting Refinery Stocks

[SMM Survey: Refinery Inventories Shift, Lead Ingot Inventories in Social Warehouses Cease Falling and Rise Again]

According to the survey, the recent trend of lead prices has been weak, with spot markets generally trading at large discounts, such as the lead smelting enterprises' factory-picked supply quotes being at a discount of 200-100 yuan/ton to the average price of SMM1# lead for ex-factory sales. However, downstream enterprises are not actively taking delivery, so some holders of goods have transferred their inventories to social warehouses, causing social warehouse inventories to cease falling and rise again.