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Primary Lead Inventory in Shanghai and Guangdong Falls, SMM Reports
Jul 3, 2017 09:50Source:SMM
rimary lead inventory in Shanghai and Guangdong dropped by 4,600 tonnes to 29,500 tonnes last week.
SHANGHAI, Jul. 3 (SMM) - Primary lead inventory in Shanghai and Guangdong dropped by 4,600 tonnes to 29,500 tonnes last week.
Where Will Lead Head This Week? SMM Forecasts
Lead price dropped constantly early the week, inverting market positive sentiment. Premiums offered for spot transaction by lead smelters narrowed. Traders gave firm offers and held back sales at low prices in response to poor stock-building interest by downstream battery producers.
Motive Battery Producers Hold High Operating Rates for Previous Order Delivery, SMM Reports
In late week, downstream battery producers increased raw material purchases after financial pressure eased, reducing lead ingot inventory.
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