Home / Metal News / Social inventories of lead ingots rose for three consecutive weeks

Social inventories of lead ingots rose for three consecutive weeks

iconMar 1, 2021 14:48
Source:SMM
Social inventories of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin expanded 1,800 mt from last Friday February 26 to 48,500 mt as of Monday March , an SMM survey showed. This was up 3,900 mt from last Monday February 22.

SHANGHAI, Mar 1 (SMM) – Social inventories of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin expanded 1,800 mt from last Friday February 26 to 48,500 mt as of Monday March , an SMM survey showed. This was up 3,900 mt from last Monday February 22.

Lead-acid battery producers have gradually resumed operations after the Chinese New Year (CNY) holiday, but high lead prices deterred them from restocking. Besides, the large price spread between spot and futures prices prompted some brands to deliver cargoes to social warehouses, which led to the rise in lead social inventories.

Inventory data
Lead ingots
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

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

Related news