Lead inventory drops on sustained production cut and restocking enthusiasm

SHANGHAI, Jun 29 (SMM) – Lead inventory in Shanghai and Guangdong declined faster over the week ended Friday June 29 as a production cut of 30-50% at primary lead smelters in Henan province sustained.

Supply remained tight as some smelters underwent maintenance. Downstream consumers restocked actively on strengthened lead prices also accounted for the inventory decrease. 

As of Friday, the inventory dipped some 4,100 mt from a week ago to 5,600 mt. This was entirely contributed by the drop in Shanghai.