Lead Ingot Social Inventory Shrank 200 mt over Weekend

SHANGHAI, Oct 25 (SMM) – The social inventory of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin decreased by about 200 mt from October 22 and fell 7,200 mt from October 18 to 186,700 mt as of October 25.

According to SMM survey, the power rationing and maintenance continued to affect the primary and secondary lead production, and the lead prices rose. The downstream users basically purchase in the long-term orders for the lower prices, and the transactions of small orders were scarce. The new round of long-term purchase has started this week (the 25th of each month is the settlement date for the long-term orders). As such, the decline in the lead-ingot inventory narrowed. The power rationing in Henan and Anhui is worth attention.