Inventory of Primary Lead in Major Deliverable Brand Companies Up amid Rising Supply

SHANGHAI, Apr 4 (SMM) - As of March 31, the inventory of primary lead stood at 3,700 mt in the major deliverable brand companies, up 2,300 mt from March 24.

According to the survey, the maintenance still affected the primary lead supply while the supply of secondary lead increased. Amid increasing market supply, the lead prices dropped sharply last week. At the end of March, large smelters were less willing to ship, and the discounts of small orders narrowed. As of last Friday, the average premiums stood at -50-50 yuan/mt against SMM 1# lead prices. As such, the in-plant inventory of smelters increased slightly, but the overall inventory was still low.