SMM, April 24: according to SMM, as of Friday (April 24), the total inventory of lead ingots in the five places of SMM totaled 8700 tons, down about 1250 tons from last week.
According to research, due to the proximity of the May Day holiday, some lead battery enterprises that are not prepared for the holiday or have a short holiday time have begun to prepare an appropriate amount of storage one after another, while the inventory of electrolytic lead smelting enterprises is low, the replenishment of social warehouses is limited, in addition, the profit level of recycled lead is not high, and the discount of recycled refined lead has not been further expanded for the time being. As of Friday, recycled refined lead remained at an average discount of 100 yuan / ton to Pingshui for electrolytic lead. In the absence of obvious price advantage, considering the nearby procurement, some of the downstream demand procurement still comes from the social warehouse.
Next week is the week before May Day, because the smelter inventory base is low, and in the delivery of long single state, downstream has completed a limited reserve, lead ingot social inventory decline next week may narrow.
