SHANGHAI, Feb 11 (SMM) – The social inventory of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin increased 7,600 mt from last Friday January 28 and rose 3,100 mt from Monday February 7 to 93,100 mt as of February 11.
According to SMM survey, the enterprises from the lead industry chain started to resume the production this week after the Chinese New Year holiday. Many lead smelters stocked the lead ingots during the holiday, and they sent the stocks to the social warehouses this week. While the procurements by some lead-acid battery enterprises delayed, especially in Jiangsu, Zhejiang, and Guangdong where the return of non-local workers was later than expected, which hindered the production resumption.
The secondary lead and lead-acid battery enterprises will resume their production further next week, and the downstream users will restock the raw materials on rigid demand. The social inventory of lead ingots may increase more slowly.
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