Lead Ingot Social Inventory Down 10,600 mt on Week

SHANGHAI, Nov 5 (SMM) – Social inventories of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin decreased 10,600 mt from October 29 and 7,800 mt from November 1 to 170,000 mt as of November 5.

According to SMM survey, the power rationing in Henan was lifted this week, but major secondary lead smelters in Anhui are forced to suspend production due to the temporary power outage on the line transformation. At the same time, Hebei suspended production due to the air pollution control, reducing lead ingot transportation to surrounding consumption areas. Downstream companies turn to consume social stocks. In addition, the delivery is about to undergo next week. On the one hand, the temporary power outage in Anhui was eased, and the air pollution control in Hebei is about to be lifted. Lead ingot supply is expected to recover. The decline of lead ingots is likely to slow as some to-be-delivered cargoes will arrive at the delivery warehouses approaching the delivery date.