[SMM data] there is a significant increase in the social inventory of imported lead ingots coming to Hong Kong.

SMM May 29th: according to SMM, as of Friday, the total inventory of SMM lead ingots in the five places reached 11600 tons, up more than 2000 tons from last week.

According to research and understanding, imported lead has arrived in Hong Kong one after another this week, becoming the main force for the rise in lead ingot inventory. at the same time, lead prices have broken upwards at the beginning of the week, smelters and traders have increased their willingness to ship goods, factory shipping discounts have expanded (for the average lead price of SMM1#), and price rises for warehouse receipts in the trade market (for Shanghai lead 2006 contracts) have also declined, while the lower reaches are generally not optimistic about the future, and most large enterprises purchase with long orders. Or on-demand procurement of primary lead or recycled lead factory shipments (the price is better than the supply of goods in the trade market), so the inventory of lead ingots is obviously accumulated. It is also understood that for June, imported lead will still have a certain inflow, and will become the primary concern of whether lead ingots are tired or not.