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Home / Metal News / Primary lead social stocks extend gains as buyers continue to favour secondary materials

Primary lead social stocks extend gains as buyers continue to favour secondary materials

Nov 9, 2018 16:38

Source:SMM

Social inventories across Shanghai and Guangdong came in at 19,500 mt as of Friday Nov 9, up some 3,300 mt from a week ago

SHANGHAI, Nov 9 (SMM) – Social inventories of primary lead across Shanghai and Guangdong came in at 19,500 mt as of Friday November 9, up some 3,300 mt from a week ago, SMM data showed.

Lacklustre trades continued to grow social stocks of primary lead as lower prices drove downstream buyers to switch to secondary materials.

Lead prices performed strongly earlier this week and this deterred downstream consumers from purchasing primary lead and widened the price spreads with secondary resources.

As of Friday, discounts of secondary lead against SMM 1# lead were heard at 350-200 yuan/mt ex-factory. Discounts were heard to exceed 400 yuan/mt ex-factory in the week.

Inventory data

Lead

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