Weaker purchases, greater supply grow lead social inventories

Published: Jul 12, 2019 16:59

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Stocks rose by over 2,200 mt in the week to Jul 12, to stand at 37,800 mt

SHANGHAI, Jul 12 (SMM) – Overall social inventories of refined lead in China, including primary and secondary materials, continued to grow this week as an ongoing low season and volatile lead prices sidelined lead-acid battery producers and as supply recovered from maintenance.

SMM data showed that lead social inventories across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin rose by over 2,200 mt in the week to Friday July 12, to stand at 37,800 mt.

The approaching July delivery grew arrivals at social warehouses, and expanded inventories.

Next week will also see a recovery at some primary and secondary lead smelters, which will likely extend the increase in social inventories, if environmental pressure has minimal impact.

Inventory data Lead

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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