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Home / Metal News / Lead inventory drops during CNY

Lead inventory drops during CNY

Feb 22, 2018 16:38

Source:SMM

Lead ingot inventory in Shanghai and Guangdong dropped over 1,500 mt during the week-long Chinese New Year holiday, according to SMM data.

SHANGHAI, Feb 22 (SMM) – Lead ingot inventory in Shanghai and Guangdong dropped over 1,500 mt during the week-long Chinese New Year holiday, according to SMM data.

This was due to lower output at smelters in Henan and Hunan provinces as well as restocking by lead-acid battery producers ahead of the holiday in anticipation of higher prices, SMM learned.

We expect the social inventory of lead to stay low in the short term as battery plants restock while downstream customers resume operations over the next week.

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