Lead Ingot Social Inventory Stood Flat over Weekend

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

Some secondary lead smelters in Ningxia and Inner Mongolia reduced the production due to low temperature. The environmental protection inspections in Anhui ended, and the primary lead smelters in Jiangxi and Henan resumed the production. The overall supply in the major lead consuming areas improved on the week.

The consumption was largely unchanged. The downstream users purchased lead ingot more cautiously as the companies from the lead industry mostly want to withdraw funds at the end of 2021. As such, the social inventory of lead ingot paused.