SHANGHAI, Sep 30 (SMM) – Social inventories of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin shrank 200 mt from the prior week to 23,000 mt in the week ended September 30.
Smelters maintained stable production ahead of the long holidays, while some of the downstream battery producers have taken 1-3 days off for the Mid-Autumn Festival and National Day holidays, after completing stockpiling of raw materials.In addition, downstream restocking before the holidays has also ended this week.
Lead-acid battery producers have been buying cargoes on requirements due to fluctuations in lead prices this week with the downstream delivery of goods. Hence social inventories of lead ingots declined slightly.
It is understood that the electrolytic lead refinery maintains normal delivery of orders during the holiday period, and most of the orders are pre-sold in advance. Refinery inventories and social inventories will increase slightly after the holidays.