Social inventories of lead ingots shrank 2,000 mt over the weekend

Published: Jan 11, 2021 14:58
Social inventories of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin fell 2,000 mt from last Friday January 8 to 56,900 mt as of Monday January 11, an SMM surveyed showed.

SHANGHAI, Jan 11 (SMM) – Social inventories of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin fell 2,000 mt from last Friday January 8 to 56,900 mt as of Monday January 11, an SMM surveyed showed.

The cold weather and Covid-induced transport restrictions slowed shipments to social warehouses. Besides, falling lead prices deterred smelters from selling. As of January 11, discounts of secondary lead narrowed to 100-150 yuan/mt, ex-works, against the average price of SMM 1# lead. Some downstream users switched to the trade market. Secondary lead smelters in Inner Mongolia and Hebei suspended production from this week due to the COVID-19 outbreak and shortages of battery scrap.

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 for 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
Kazakhstan and Zijin Mining Discuss Investment in Mining Sector, Eye Shalkiya Lead-Zinc Project
1 hour ago
Kazakhstan and Zijin Mining Discuss Investment in Mining Sector, Eye Shalkiya Lead-Zinc Project
Read More
Kazakhstan and Zijin Mining Discuss Investment in Mining Sector, Eye Shalkiya Lead-Zinc Project
Kazakhstan and Zijin Mining Discuss Investment in Mining Sector, Eye Shalkiya Lead-Zinc Project
According to foreign media reports, Kazakhstan’s First Deputy Prime Minister Nurlybek Nalibayev recently met with representatives of international mining company Zijin Mining Group. The two sides discussed prospects for investment cooperation in Kazakhstan’s mining and metallurgical sector, including projects involving the development and processing of solid minerals. Zijin Mining also expressed interest in the Shalkiya lead-zinc deposit in Kyzylorda Region and indicated its willingness to further explore the possibility of participating in the project.
1 hour ago
Zhongjin Lingnan: Fankou lead-zinc mine to resume production from September 17
6 hours ago
Zhongjin Lingnan: Fankou lead-zinc mine to resume production from September 17
Read More
Zhongjin Lingnan: Fankou lead-zinc mine to resume production from September 17
Zhongjin Lingnan: Fankou lead-zinc mine to resume production from September 17
Zhongjin Lingnan announced that its Fankou lead-zinc mine has completed rectification in accordance with the relevant work requirements of the Guangdong Provincial Department of Emergency Management, and has passed the acceptance inspections by higher-level safety regulatory authorities at each level. Production will resume from September 17, 2026. The company previously disclosed that at approximately 9:45 a.m. on August 1, 2026, a roof fall accident occurred in an underground stope access at the Fankou lead-zinc mine, resulting in one fatality. After the accident, the company received the "Notice on Ordering the Fankou Lead-Zinc Mine to Suspend Production" issued by the Shaoguan Emergency Management Bureau, and the Fankou lead-zinc mine suspended production in accordance with the notice.
6 hours ago
US Fed Rate Hike Lands, LME Lead and SHFE Lead Bottom Out [SMM Lead Morning Brief]
7 hours ago
US Fed Rate Hike Lands, LME Lead and SHFE Lead Bottom Out [SMM Lead Morning Brief]
Read More
US Fed Rate Hike Lands, LME Lead and SHFE Lead Bottom Out [SMM Lead Morning Brief]
US Fed Rate Hike Lands, LME Lead and SHFE Lead Bottom Out [SMM Lead Morning Brief]
7 hours ago