Lead Ingot Social Inventory Down 6,300 mt on Week

SHANGHAI, Dec 3 (SMM) – The social inventory of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin decreased 10,600 mt from November 26 and 6,300 mt from November 29 to 128,700 mt as of December 3.

The secondary lead smelters in Jiangsu and Anhui continued the maintenance, and some smelters in Jianxi reduced the production under the inspections of Solid Waste Management Centre.

The Ministry of Ecology issued a notice on December 1 that the second round of the fifth batch of central environmental protection inspections was fully launched, and four inspection teams will be stations in Heilongjiang, Guizhou, Shaanxi, and Ningxia for one month. Some secondary lead smelters in Guizhou have reduced the production, and the downstream users consumed the social stocks in surrounding areas.

Some primary lead smelters will end maintenance next week, and the output is expected to increase. The lead ingot exports may drop as the export causes losses amid rising SHFE/LME price ratio. The lead ingot social inventory may drop more slowly.