Lead Ingot Social Inventory Increased This Week

SHANGHAI, May 26 (SMM) - According to SMM research, as of May 26, the total social inventory of SMM lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin reached 31,800 mt, an increase of 3,000 mt from May 19 and 2,200 mt from May 22.
According to the research, the social inventory of lead ingots increased amid off-season. And downstream enterprises mainly picked up goods in the form of long-term order. The traders in Jiangsu, zhejiang and Shanghai sold at premiums of 0-30 yuan/mt over the SHFE lead prices while that in Henan and Hunan quoted in discounts of 50-0 yuan/mt over the SMM #1 lead price or in discounts of 200-150 yuan/mt aganist SHFE 2306 lead contract.