Most Secondary Lead Smelters Report Extremely Low Levels of Finished Product Inventories

SHANGHAI, Mar 27 (SMM) – Due to approaching delivery of monthly long-term orders, the vast majority of smelters reported extremely low levels of finished product inventories. According to SMM survey, the inventory of finished products held by secondary lead smelters stood at about 16,200 mt last week, down slightly from a week ago. The raw material inventories of smelters in SMM's survey sample fell 14,400 mt from a week ago to 192,800 mt last week. Traders said battery scrap replacement has fallen considerably recently, so has battery scrap recycling volume. Some secondary lead smelters began to raise battery scrap purchase prices, and battery scrap supply will gradually tighten in the future.