SHANGHAI, Dec 10 (SMM) – The social inventory of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin decreased by 8,300 mt from December 3 and fell 8,300 mt from December 6 to 120,400 mt as of December 10. The inventory kept falling for three-consecutive months and hit a record low since June 11, 2021.
The secondary lead supply was tight in some regions amid environmental protection and maintenance, and some large deliverable primary lead brands conducted maintenance due to accidents, which slowed down the recovery of supply. The downstream purchased goods from social resources for the rigid demand. The social inventories fell significantly in Jiangsu and Zhejiang.
The primary lead smelters will gradually resume the production after maintenance next week, and some in-plant stocks will be sent to the delivery warehouses approaching the delivery of SHFE 2112 lead contract. The decline in social inventory is expected to slow down further.
