Social inventories of lead ingots expanded 3,900 mt over weekend

SHANGHAI, Jul 12 (SMM) – Social inventories of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin rose 3,900 mt from last Friday July 9 to 147,400 mt as of Monday July 12, an SMM survey showed. The stocks were up 13,500 mt from last Monday July 5.

According to SMM survey, the supply of lead ingots remained in a surplus state, and inventories of lead ingots became explicit due to the increase of delivery inventory capacity, among which stocks of warehouses in Shanghai, Jiangsu and other regions continued to rise. This week is the delivery week, the last batch of goods delivered will arrive at the warehouse one after another, and it is expected that social inventories of lead ingots will continue to increase.