SHANGHAI, Jun.15 (SMM) – Lead supply in Guangdong tightened recently as shipments from smelters declined and as traders shifted goods to Shanghai in pursuit of higher prices, SMM learns.
Sellers seldom made quotation due to limited goods availability, needless to say transactions.
A majority of goods tradable in Guangdong came from Hunan, Guangxi and Yunnan. However, Guangxi’s smelters mainly shipped goods to Shanghai while those in Hunan preferred to sell products to Jiangxi’s buyers lately due to low prices in Guangdong, SMM understands.
As for Yunnan, a recent SMM survey finds that lead output there dropped due to strict environmental protection inspections and falling lead ore supply in Gejiu region, cutting goods available in Guangdong. Moreover, limited number of trunks between Gejiu and Guangdong also drove down lead shipments.
SMM had reported that traders were transferring goods from Guangdong to Shanghai and Jiangxi driven by higher prices. This goods shift also resulted in tight supply in Guangdong, especially goods under warehouse warrants.
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