Lead Ingot Social Inventory Down 4,700 mt over Weekend

SHANGHAI, Nov 15 (SMM) – The social inventory of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin decreased 4,700 mt from November 12 and dropped 6,500 mt from November 8 to 164,600 mt as of November 15.

The smelters in Jiangsu were conducting technical upgrade. The transportation of lead ingot in Inner Mongolia was impeded due to the snowstorms, and the loca downstream users purchased goods from nearby regions. Thus the inventories in Jiangsu, Zhejiang, and Tianjin all declined.

the power rationing in Anhui eased but was not fully lifted. The COVID-19 pandemic continued to impact the production in Jiangxi. The varied supply is expected to extend. SMM will monitor whether the impact of snowstorms in Inner Mongolia is lifted.