Lead Ingot Social Inventory Shrank 1,900 mt over Weekend

SHANGHAI, Jan 4 (SMM) – The social inventory of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin decreased 1,900 mt from December 31 and fell 6,900 mt from December 27 to 9,300 mt as of January 4.

The enterprises have resumed their bookkeeping in January, and the downstream enterprises seldom had New Year’s Day holiday, so they maintained a small number of purchases. The inventories in Shanghai and Guangdong kept falling. The primary lead smelters gradually resumed the production after the holiday. As the downstream users will start to restock for CNY holiday, and the secondary lead supply remains varied by region, the social inventory of lead ingots is expected to keep falling.