Lead ingot social inventories expanded 1,400 mt over weekend

SHANGHAI, Jun 19 (SMM) – Social inventories of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin increased 1,400 mt from July 16 and rose 11,700 mt from July 12 to 159,100 mt as of July 19.

Supply of primary and secondary lead increased steadily, but the consumption was weaker, and social inventories of lead ingots kept rising.

However, the increment narrowed as smelters and holders slowed down the deliveries after the settlement of SHFE 2107 lead contract, as the next settlement day is still far away.