SHANGHAI, Mar 6 (SMM) – The finished product inventory of secondary lead smelters dropped 5,000 mt from a week ago to 12,800 mt last week thanks to the delivery of monthly long-term contracts at the end of February and improved transactions in the spot market after lead prices fell back.
In contrast, the raw material inventory of secondary lead smelters added 10,600 mt from a week ago to 208,400 mt last week. There was plenty of battery scrap available in the market. The warehouse storage capacity of a few large smelters was even saturated.
