Lead social inventories rose 3,000 mt over the past fortnight

SHANGHAI, Feb 3 (SMM) – Social inventories of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin stood at 32,000 mt as of Monday February 3, up nearly 3,000 mt from January 17, showed SMM data.

Transport restrictions that started in late January due to the epidemic outbreak have deterred refined lead from moving from smelters to social warehouses.

Demand for lead, meanwhile, is expected to remain muted until at least the second week of February, as the major consumers—lead-acid battery producers—are extending their holidays through February 10.