Social Inventory of Lead Ingots Increase amid the Approaching Delivery of SHFE 2212 Lead Contract

SHANGHAI, Dec 5 (SMM) - According to SMM research, as of December 5, the social inventory of lead ingots across five provinces reached 45,000 mt, a decrease of 1,400 mt from last Friday (December 2) and a decrease of 5,300 from last Monday (November 28). 
According to the research, last week, Jiyuan, Henan Province was closed for 5 days due to the pandemic. During this period, the transportation of some vehicles was restricted, which reduced the arrivals of goods in the social warehouses. At the same time, due to the insufficient supply of battery scrap and equipment failure of the secondary lead enterprises in Jiangsu and Jiangxi, the lead supply tightened in the short term. Therefore, the downstream enterprises around Jiangsu, Zhejiang and Shanghai purchased raw materials nearby as needed and the social inventory of lead ingots continued to decline. This week, the impact of pandemic on Henan Jiyuan was lifted, and the supply and demand improved slightly. In addition, it is only 8 working days away from the delivery of the SHFE 2212 lead contract. SMM will pay further attention to the arrivals of deliverable goods.