SHANGHAI, May 12 (SMM)- According to SMM research, as of May 12, the total social inventory of SMM lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin reached 34,300 mt, an increase of 7,100 mt from May 5 and 6,800 mt from May 8.
According to the research, the lead ingots gradually arrived at the SHFE warehouses approaching the delivery of the SHFE 2305 lead contract, hence the social inventory increased accordingly and is expected to rise further next week. After the Labour Day holiday, the off-season for lead-acid battery enterprises intensified, and some downstream enterprises were less willing to purchase. However, the lead ingot inventory may increase under the rising supply in light of the resumption of production at primary and secondary lead smelters.
