SHANGHAI, Jun. 19 (SMM) – Lead inventories in Shanghai and Guangdong posted the smallest drop since March in the week past, as downstream producers were still unwilling to build stocks before China’s Dragon Boat Festival, SMM understood.
Lead stocks in the two regions fell by merely 546 tonnes this past week, and Shanghai Quansheng Storage said the amount delivered into its warehouses have exceeded that shipped out.
Lead-acid battery makers used to build input inventories before the Dragon Boat Festival. This year, however, the pre-holiday market remained quiet.
Some battery producers preferred to halt production considering poor sales in an offseason and tight midyear liquidity, SMM says.
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