SHANGHAI, Apr 18 (SMM) - Primary lead smelters held 9,050 mt of lead ingot inventories in March, down 6,650 mt MoM.
Due to the slow recovery of secondary refined lead production, the increase in total refined lead supply was unable to keep up with the full recovery of downstream consumption in March. This allowed the inventories of primary lead smelters to dwindle.
Entering April, supply and demand in the lead market have both declined. The onset of the off-season for battery replacement threatens to push up the inventories of primary lead smelters, but the inventory accumulation may be limited as both primary and secondary lead smelters plants will undertake maintenance or cut output.
