Lead ingot social inventories down to 125,700 mt on week

Published: Jun 25, 2021 17:30 (GMT+8)

Save

Social inventories of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin decreased 4,200 mt from the prior week but rose 600 mt from June 21 to 125,700 mt as of Friday June 25, an SMM survey showed.

SHANGHAI, Jun 25 (SMM) - Social inventories of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin decreased 4,200 mt from the prior week but rose 600 mt from June 21 to 125,700 mt as of Friday June 25, an SMM survey showed.

Lead supply did not fully recover amid maintenance in both primary and secondary lead smelters. Secondary lead smelters held prices firmly for shipments, and the demand turned to primary lead at lower prices early this week, leading to the decline in lead ingot inventories. However, lead prices fluctuated upward later this week, and downstream purchase declined due to the high prices. The discounts of secondary refined lead expanded to 350-250 yuan/mt (ex-factory) over the average price of SMM #1 lead as of June 25. Downstream rigid demand switched to the secondary lead, and lead ingot inventories increased slightly. Currently, secondary lead smelters are more active to ship goods amid recovered profits. If the consumption does not rebound significantly, lead ingot social inventories are likely to further increase.

Lead ingot Social inventory

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

2 hours ago

BMC Minerals reports further expansion of polymetallic mineralisation at Rhyolite Peak

BMC Minerals reported on October 5 that polymetallic mineralisation at the Rhyolite Peak target within its Kudz Ze Kayah project in Yukon, Canada, had been further extended. Rhyolite Peak is a silver-zinc-gold-copper-lead exploration target located near the proposed ABM mine. The update remains an exploration-stage drilling development and does not constitute a new Mineral Resource, Ore Reserve or production change.

2 hours ago

【Flash | DOWA’s H2 Zinc Plan Rises 27%, Potentially Supporting Indium Recovery】

DOWA Holdings plans to produce 113,543 tonnes of zinc in H2 FY2026, up 27.0% from its H1 plan of 89,373 tonnes and 26.8% from the 89,525 tonnes produced in H2 FY2025. Its Akita Zinc operation uses the hematite process to recover indium and other valuable metals at high yields and integrates zinc smelting with rare-metal production and recycling. Higher planned zinc output may increase feed throughput for by-product indium recovery. However, DOWA disclosed no indium production target, and any supply increase will depend on feed grades, recovery rates and operating schedules rather than zinc volumes alone.

2 hours ago

3 hours ago

【SMM Flash News】Red Hill Announces Start of a 1,700-Metre Diamond Drilling Program at Broken Hill.

On October 5, Red Hill Minerals announced the start of a planned 1,700-metre diamond drilling program at Broken Hill in New South Wales, Australia. Broken Hill forms part of the Curnamona exploration joint venture, whose target commodities include zinc, lead and silver.

3 hours ago