Robust demand limits growth in primary lead inventory

SHANGHAI, Aug 10 (SMM) – Social inventories of primary lead in Shanghai and Guangdong saw a smaller increase this week as robust downstream consumption offset some supply growth, SMM research found as of Friday August 10.

Inventories across the two regions gained close to 1,000 mt from a week earlier to 15,800 mt as of Friday. This compared to a gain of close to 4,000 mt last week.

Recovering supply from primary lead smelters and a few arrivals of imported materials contributed to the increase in social stocks.

Meanwhile, downstream consumers made some purchases as rebounding prices of lead improved their sentiment. Operation resumption at lead-acid battery plants in Jiangxi province also depleted supplies.