Social inventories of lead ingots extended declines in a traditional high consumption season

Published: Aug 7, 2020 18:49

Save

Social inventories of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin shrank 900 mt from a week ago to 36,800 mt as of August 7, showed SMM data.

SHANGHAI, Aug 7 (SMM) –Social inventories of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin shrank 900 mt from a week ago to 36,800 mt as of August 7, showed SMM data.

Some primary lead smelters in Henan recovered from maintenance, while downstream battery makers restocked actively as battery consumption improved.

Downstream buyers stockpiled at the start of this week when lead prices weakened, but stood on the sidelines or turned to cheaper secondary lead in the second half of this week when lead prices jumped above 16,500 yuan/mt. Secondary refined lead was mainly traded at discounts of 350-450 yuan/mt against the average price of SMM 1# lead as of August 7.

SMM expects lead social inventories to dip next week as primary and secondary lead smelters are likely to keep stable production and downstream consumption is expected to remain moderate.

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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Feb 6, 2026 19:50

Lead Prices Stagnant, Smelters Maintain Firm Offers Amid Losses

Lead prices were in the doldrums, while secondary lead smelters maintained firm offers due to losses. The mainstream spot order ex-factory prices including tax narrowed the discount to the SMM #1 lead average price by 100 yuan/mt, shifting to a premium of 0–25 yuan/mt, with some smelters halting offers and sales.

Feb 6, 2026 19:50

Feb 6, 2026 19:49

"Domestic Secondary Crude Lead Market Slows as Holidays Approach, Smelters Halt Production"

Pre-holiday stockpiling by downstream enterprises had largely concluded, and a few had already entered the holiday period, completely suspending procurement. Next week, secondary lead smelters will enter a concentrated wave of production halts and holidays, resulting in sluggish trading activity in the spot market. Offers for spot refined lead orders were sparse, with prices moving in line with the market.

Feb 6, 2026 19:49

Feb 6, 2026 19:48

Sluggish Transactions in Domestic Secondary Crude Lead Market, Prices at 15,250-15,400 Yuan/mt

The domestic secondary crude lead market experienced sluggish transactions. As of February 6, 2026, the ex-factory tax-exclusive offers for domestic secondary crude lead stood at 15,250-15,400 yuan/mt. Downstream refined lead and alloy smelters gradually entered the holiday period, showing weak stockpiling willingness. Overseas lead ingot suppliers basically halted transactions with China due to poor consumption in the Chinese market, with only some previously concluded shipments maintaining normal in-transit transportation. The trading atmosphere in the secondary crude lead market will continue to weaken next week.

Feb 6, 2026 19:48