Lead Ingot Social Inventories Expanded 6,800 mt Over Weekend

SHANGHAI, Aug 30 (SMM) – Social inventories of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin increased 6,800 mt from August 27 and rose 6,300 mt from August 23 to 206,300 mt as of August 30.

Primary lead smelters in Henan and Anhui resumed production, and lead ingot supply increased. Downstream purchase was limited at the end of the month, so the deliverable lead ingots continued to be transferred to social warehouses, mainly to the warehouses in Shanghai as the inventories in Zhejiang, Jiangsu, and Tianjin were close to the storage limit, and Shanghai had the storage capacity over 60,000 mt. The warehouse stocks in other regions may also be transferred to Shanghai.