Primary lead inventory shrinks 1,100 mt in Shanghai, Guangdong

Published: Jul 13, 2018 16:01

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Primary lead inventory in Shanghai and Guangdong shrank 1,100 mt from a week ago as traders were unwilling to restock

SHANGHAI, Jul 13 (SMM) – Primary lead inventory in Shanghai and Guangdong shrank 1,100 mt from a week ago to stand at 7,700 mt as of Friday July 13, as traders were unwilling to restock on plunging lead price.

While the delivery date approaches, the SHFE 1808 contract stayed around 1,000 yuan/mt lower than the 1807 contract. This also deterred traders from purchasing.

Domestic and imported cargos were depleted gradually by downstream over the week. However, suspension at lead-acid battery plants near Guangdong, on environmental ground, accounted for 1,500 mt of increase in primary lead stock in the province.

Inventory data Lead

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

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