SHANGHAI, Jun 1 (SMM) – Social inventories of primary lead in Shanghai as of Friday June 1 rose 1,300 mt from a week ago and stood at 9,000 mt as imports arrived and as high offers at the start of the week drove downstream consumers towards purchasing from smelters, SMM believed.
For the same period, social inventories of primary lead in Guangdong lost 200 mt to 2,300 mt as of Friday June 1 as demand in Guangdong grew. In Guangdong, environmental inspections over secondary lead production limited outputs and drove up secondary lead price. This pushed downstream consumers towards primary lead.
Overall social inventories of primary lead across Shanghai and Guangdong came in at 11,300 mt as of Friday June 1, up 1,100 mt week on week.
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