Falling Lead Prices Stimulated Downstream Procurement, and Primary Lead Enterprise Plant Inventory Declined Again [SMM Primary Lead Inventory Weekly Review]

          It is learned that as of March 19, in-factory inventory of major delivery brands of primary lead stood at 23,400 mt, down 5,000 mt WoW.

Recently, production at primary lead smelters has risen steadily, with relatively ample circulating supply, and most transactions in the spot market were concluded at discounts. During the week, lead prices fell more than expected, and downstream enterprises gradually made purchases at lower prices, further reducing smelters' in-factory inventory. Meanwhile, there were differences in supply between the northern and southern markets. After lead prices fell, smelters in the more south China regions showed significantly stronger sentiment to hold prices firm than those in the northern market. As of March 20, spot order quotations for primary lead were at premiums of 50-100 yuan/mt ex-works against the SMM #1 lead average price.