SHANGHAI, Oct 22 (SMM) – The social inventory of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin decreased 12,800 mt from October 15 and dropped 7,000 mt from October 18 to 186,900 mt as of October 22.
The primary lead smelters continued to conduct maintenance this week, and the production of primary and secondary lead in Henan and Anhui was restricted due to the power rationing. The lead consumption was relatively high, and the lead inventories dropped mainly in Jiangsu, Zhejiang, and other major lead consumption areas.
The power rationing will continue next week, and the primary lead smelters in Jiangsu will start maintenance. The lead ingot inventory is expected to keep falling.