Lead Ingot Social Inventory Surges to 3-Month High Amid Supply Oversupply and Futures-Spot Price Divergence

[SMM Lead Ingot Social Inventory: Widening Spread Between Futures and Spot Prices Promotes Transfer to Delivery Warehouse, Social Inventory of Lead Ingots Rises to a Nearly 3-Month High]

After the Chinese New Year holiday, upstream and downstream enterprises in the lead industry chain have mostly resumed normal production. In particular, the production of secondary lead enterprises has increased, coupled with the commissioning of new capacity in regions such as Guizhou and Jiangxi. Overall, the supply growth has outpaced demand, and the trend of inventory buildup for lead ingots remains unchanged...