SMM research: The social inventory of lead ingot is rising as the consumption decline is greater than supply amid the pandemic

Shanghai, Apr 11 (SMM)- According to SMM research, as of April 11, the total lead ingot social inventory in five major places reached 101,200 mt, up 1,300 mt from last Friday (April 1); and up 1,800 mt from last Wednesday (April 6).

According to the survey, both supply and demand of lead ingot declined due to the continuous impact of the pandemic on the lead industry chain, especially in the consumer sector. As lead-acid battery replacement market has entered the traditional off-season, many battery enterprises have reduced production. The regional supply of lead ingots is unbalanced, and the spot discount of primary lead and secondary lead has expanded simultaneously. In addition, the SHFE 2204 lead contract is about to be delivered this week, so that the goods have successively arrived in the inventory. The lead ingot social inventory is on the rise.