Primary lead social stocks decline as sellers are keen to cash in-Shanghai Metals Market

Hot Keywords

  • Zinc
  • Aluminium
  • Inventory data
  • Futures movement
  • Silicon
  • Copper
  • Prebaked anode
  • NEV
  • Lead
  • Evening comments
  • Nickel
  • MMi Iron Ore Port Index
  • New Energy Vehicle
  • Production data
  • Market commentary

Primary lead social stocks decline as sellers are keen to cash in

Data Analysis 02:12:57PM Dec 28, 2018 Source:SMM

SHANGHAI, Dec 28 (SMM) – Social inventories of primary lead across Shanghai and Guangdong fell 3,200 mt over the week ended December 28 and stood at 18,400 mt, SMM data showed.

As the year draws to a close, smelters and traders were keen to offload cargoes to improve cash flows. Offers for primary lead dropped this week, which prompted downstream consumers to make purchases.

As of Friday December 28, offers for domestic materials were heard at discounts of up to 50 yuan/mt against the SHFE January contract, down from premiums of 50-150 yuan/mt at the start of the week.

Offers for seaborne materials also fell to discounts of 150-50 yuan/mt, from a range between discounts of 50 yuan/mt to premiums of 100 yuan/mt. Some sellers even offered at discounts of 350-300 yuan/mt in the week.

Despite tight cash flows by the year-end, stockpiling for New Year's Day and lower lead prices triggered purchases by downstream consumers this week. This reduced social stocks.

Social inventories of primary lead across Shanghai and Guangdong fell to 21,600 mt as of December 21, down from a 16-month high of 24,000 mt a week ago.

Key Words:  Inventory data   Lead 

Price

more
#1 Lead
Apr.18
16500.0
-50.0
(-0.30%)
T/C for domestic lead concentrate
Apr.01
1850.0
0.0
(0.00%)
T/C for imported lead concentrate
Apr.01
27.5
0.0
(0.00%)
#2 Lead
Apr.18
16450.0
-50.0
(-0.30%)
Secondary Lead
Apr.18
16050.0
-50.0
(-0.31%)

Primary lead social stocks decline as sellers are keen to cash in

Data Analysis 02:12:57PM Dec 28, 2018 Source:SMM

SHANGHAI, Dec 28 (SMM) – Social inventories of primary lead across Shanghai and Guangdong fell 3,200 mt over the week ended December 28 and stood at 18,400 mt, SMM data showed.

As the year draws to a close, smelters and traders were keen to offload cargoes to improve cash flows. Offers for primary lead dropped this week, which prompted downstream consumers to make purchases.

As of Friday December 28, offers for domestic materials were heard at discounts of up to 50 yuan/mt against the SHFE January contract, down from premiums of 50-150 yuan/mt at the start of the week.

Offers for seaborne materials also fell to discounts of 150-50 yuan/mt, from a range between discounts of 50 yuan/mt to premiums of 100 yuan/mt. Some sellers even offered at discounts of 350-300 yuan/mt in the week.

Despite tight cash flows by the year-end, stockpiling for New Year's Day and lower lead prices triggered purchases by downstream consumers this week. This reduced social stocks.

Social inventories of primary lead across Shanghai and Guangdong fell to 21,600 mt as of December 21, down from a 16-month high of 24,000 mt a week ago.

Key Words:  Inventory data   Lead