SHANGHAI, Apr 28 (SMM) - According to SMM research, as of April 28, the total social inventory of SMM lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin reached 26,100 mt, a decrease of 4,900 mt from April 21 and 3,400 mt from April 24.
According to the research, the supply of primary lead and secondary lead increased steadily, but the inventory of lead ingots, especially the stocks of deliverable brands decreased further approaching the Labour Day holiday as some downstream enterprises had some restocking demand before taking 1-3 days off. However, the lead ingot inventory may increase under the rising supply in light of the holidays taken by downstream enterprises, the stable production of lead smelters and the work resumption plan of some secondary lead smelters.
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