Primary Lead Inventory in Shanghai and Guangdong down 1,000 Tonnes Further, SMM Reports

SHANGHAI, Aug. 14 (SMM) - Primary lead inventory in Shanghai and Guangdong fell about 1,000 tonnes further to 27,140 tonnes last week.

Lead smelters in face of volatile lead prices mainly supplied goods for term contracts, and spot transaction was offered at high premiums. Traders held back sales at low prices amid low on-hand inventories.

Watch Out for Decline in Lead Prices This Week, SMM Warns

Downstream battery producers mainly purchased under term contracts, and bought spot goods based on orders in small amounts. Price gap between primary lead and secondary lead was due mainly to transportation costs. Downstream battery producers made price comparison when deciding which raw material to buy.

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