SHANGHAI, Nov 12 (SMM) – The social inventory of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin decreased 700 mt from November 5 and dropped 1,900 mt from November 8 to 169,200 mt as of Noember 12.
The lead ingot supply varied by region. The power rationing in Anhui was alleviated, but the technological transformation and maintenance suppressed the production. The secondary lead smelters in Shanghai and Jiangsu lowered the operating rates due to the technological transformation, and the downstream users turned to consume the in-house inventories. The lead ingots shipped from the plants gradually arrived at the social warehouses before the delivery of SHFE 2111 lead contract. The social inventory of lead ingots may not increase next week amid power rationing, maintenance, and technological transformation.