SHANGHAI, Jun 8 (SMM) – Lead social inventories across Shanghai and Guangdong warehouses shrank 300 mt from last week and amounted to 11,000 mt as of Friday June 8, SMM data showed.
Shanghai saw a smaller decline as downstream battery producers were mostly located in Jiangsu and Zhejiang provinces, and as buyers purchased cautiously on rising lead prices.
Primary lead accounted for most of the demand as supplies of secondary lead fell on environmental reviews in Jiangxi province and lower than expected output in Anhui province, SMM learned.
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