Home / Metal News / Lead / Primary lead social stocks extend decline on smaller price spreads with secondary lead
Primary lead social stocks extend decline on smaller price spreads with secondary lead
Nov 23,2018 16:44CST
data analysissmm insight
Source:SMM
Stocks across Shanghai and Guangdong decreased by 600 mt from a week ago to 16,900 mt as of Friday Nov 23

SHANGHAI, Nov 23 (SMM) – Social inventories of primary lead across Shanghai and Guangdong fell for a second straight week as smaller price spreads with secondary materials pushed buyers to purchase primary materials.

SMM data showed that social stocks of primary lead across the two regions decreased by 600 mt from a week ago to stand at 16,900 mt as of Friday November 23.

Lead prices traded rangebound this week. Price spreads between secondary refined lead and primary materials narrowed as high battery scrap prices, supported by tight supplies, thinned profit margins across secondary lead smelters and forced them to raise offers. Most secondary lead smelters offered cargoes in discounts of 150 yuan/mt, ex-works, against SMM 1# average, earlier in the week.

Limited cargoes that were used to fulfill the November contract entered the spot market this week.

Inventory data
Lead
Primary lead
Secondary lead

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news