Growing supply, sluggish demand bolsters primary lead inventory

SHANGHAI, Aug 3 (SMM) – Social inventories of primary lead in Shanghai and Guangdong rose this week as output increases at smelters and the arrival of imports grew supplies, SMM research found as of Friday August 3.

Inventories across the two regions gained close to 4,000 mt from a week earlier to 14,800 mt as of Friday.

Sluggish demand also accounted for the inventory growth. Most lead-acid battery plants cut production and purchased on demand as lead prices fell. Primary lead also faced pressure from imported and secondary materials.