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Home / Metal News / Primary Lead Inventory in Shanghai and Guangdong to Rally This Week, SMM Expects

Primary Lead Inventory in Shanghai and Guangdong to Rally This Week, SMM Expects

iconJul 24, 2017 13:23
Primary lead inventory in Shanghai and Guangdong inched up 400 tonnes to 29,400 tonnes last week.

SHANGHAI, Jul. 24 (SMM) – Primary lead inventory in Shanghai and Guangdong inched up 400 tonnes to 29,400 tonnes last week.

Secondary Lead Smelters Halve Output on High Temperature, SMM Reports

Lead smelters in face of falling prices mainly supplied goods for term-contracts, and few spot transactions were heard. Traders were also inactive in making offers with insufficient inventories. Downstream battery producers mainly purchased secondary refined lead from spot market, in addition to resources from term contracts.

Lead Prices to Stay Weak This Week, SMM Forecasts

As secondary refined lead price is higher than that of primary lead, some downstream battery producers will return to buy primary lead this week, reducing lead inventory.

For news cooperation, please contact us by email: sallyzhang@smm.cn orservice.en@smm.cn.

 

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Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

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