Lead inventory in Shanghai increased by more than 10% to refresh the highest level in two and a half months.

Data released by the London Metal Exchange (LME) show that since London lead stocks rose to a phased high of 58175 tons on November 16 last year, lead stocks in the previous week continued to decline, falling to a more than 14-year low of 38275 tons on March 11, while inventories rebounded slightly yesterday, rising 400 tons to 38675 tons.

Data released by the Shanghai Futures Exchange show that lead stocks in Shanghai continue to accumulate and have increased for six consecutive weeks. Weekly lead stocks in Shanghai rose 13.5% to 106236 tons in the week of March 11, to a two-and-a-half-month high.

Note: generally speaking, declining stocks in domestic and foreign exchanges will support the futures price, otherwise, it will be bad for the futures price.