Social Inventory of Lead Ingots may Stop Falling

SHNAGHAI, Mar 6 (SMM) - As of March 6, the social inventory of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin was 51,600 mt, down200 mt from March 3 and 1,900 mt from February 27.

According to research, amid the seasonal low, enterprises were less active in purchasing. WIth the ramp-up of new capacity of primary and secondary refined lead, regional tight supply eased and thus the decline in inventory narrowed. Amid the approaching delivery of SHFE 2303 lead contract, cargo holders were active in delivering in light of great price spread between futures and spots. Social inventory of lead ingots may stop falling and increase.