SMM News: London Metal Exchange (LME) data show that London lead inventory rebounded at a low level, the current inventory of 63025 tons. On Tuesday, lead stocks on the exchange fell to 61300 tonnes, hitting a nearly one-year low.
Data released in the last issue showed that lead inventories in Shanghai have rebounded since late May, with weekly inventories surging 49.96 per cent to 40547 tons as of July 17, the highest level since January 10.
Note: generally speaking, declining stocks in domestic and foreign exchanges will support the futures price, otherwise, it will be bad for the futures price.
Comparison of lead inventory between LME and previous period since 2018
The following is the lead inventory data of LME and the previous period since July 2020: (in tons)