Social inventories of lead ingots rose 1,100 mt over weekend

Published: Feb 22, 2021 16:24

Save

Social inventories of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin expanded 1,100 mt from last Thursday February 18 to 44,500 mt as of Monday February 22, an SMM survey showed.

SHANGHAI, Feb 22 (SMM) – Social inventories of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin expanded 1,100 mt from last Thursday February 18 to 44,500 mt as of Monday February 22, an SMM survey showed.

Most of the downstream lead-acid battery makers restored operations from February 19, but their demand for lead ingots was not strong as they kept low operating rates at the beginning of resumption. Besides, the price spread between spot and futures prices expanded as lead prices rose close to the 16,000 mark, which prompted some traders to delivery cargoes to social warehouses.

Lead ingots Inventory data

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

2 hours ago

US Dollar Index Approached 100, LME Lead Fell to a 10-Month Low [SMM Lead Morning News]

[SMM Lead Morning Update: US Dollar Index Nears 100; LME Lead Falls to a 10-Month Low] SMM News, March 4: Overnight, LME lead opened at $1,967.5/mt. During the Asian session, LME lead traded relatively steadily, consolidating around $1,970/mt for most of the session......

2 hours ago

Geopolitical Risks Continue to Escalate; Lead Prices Remain Under Pressure, Fluctuate, and Pull Back [SMM Lead Morning Meeting Minutes]

[SMM Lead Morning Meeting Minutes: Geopolitical Risks Continue to Escalate, Lead Prices Under Pressure and Volatile Pull Back] The renewed US-Iran conflict has reignited “inflation concerns,” and the probability of the US Fed’s second interest rate cut this year has fallen to 50%. Overseas geopolitical tensions remain unchanged, supply-chain pressures are significant, and damage to the economic environment has weighed on base metals broadly, leading to widespread weakness...

2 hours ago

17 hours ago

SMM March 3 EV Battery Market Overview [SMM Evening News]

17 hours ago