In April, lead ingot supply and demand both fell.

The social inventory of lead ingots across China’s five major markets decreased 13,500 mt MoM to 26,100 mt as of April 28, and stood at 27,500 mt as of May 8.

With the recovery of large-scale secondary lead smelters after maintenance and the production ramp-up of new capacity, the overall supply will increase in May.

Inventories of Lead Ingots at Domestic Primary Lead Smelters Grew In April and Will Accumulate Further in May

In May, many smelters restarted production after maintenance in early May, while an increasing number of smelters began maintenance in the second half of the month.

Crude oil prices snapped losses for two consecutive days and rose slightly today. As of 15:04 CST, WTI oil rose 0.32% and Brent oil climbed 0.42%.

Crude oil futures rose slightly today. As of 15:19 CST, WTI oil rose 0.7% and Brent oil rose 0.56%.

As of 15:07 CST, WTI oil rose 0.04%, and Brent oil advanced 0.02%.

Crude oil futures continued to weaken today. As of 15:10 CST, WTI oil and Brent oil fell 1.3%.

Macroeconomic data due this week includes first quarter GDP data in the United States including the quarterly real personal consumption expenditures, the flash annualised quarterly core PCE price index, the annualised core PCE price index and personal spending in March. Recently, the market has predicted the Fed’s interest rate hike based on the downward pressure on the economy and the fact that the high inflation in the United States has not fundamentally improved.