[SMM Research] Pay Attention to the Secondary Lead Supply as the Social Inventory of Lead Ingot Declined After the Delivery of the SHFE 2204 Lead Contract

SHANGHAI, Apr 19 (SMM) - According to SMM, as of April 18, the total lead ingot inventory in the five major markets reached 104,900 mt, up 1,300 mt compared with last Friday (April 15), about 3,700 mt higher than last Monday (April 11).

According to the survey, with the close of the SHFE 2204 lead contract, the delivery of the cargo holders slowed down. At the same time, the impact of the pandemic in some areas has eased, so the warehouse began to ship. But the downstream enterprises purchased as needed, so the social inventory decreased only slightly. 

In addition, the impact of the pandemic on the transportation of battery scrap has eased. So that the supply of secondary lead in Anhui, Henan and other places has increased compared with last week. But the consumption sector was flat, so it is expected that the social inventory of lead ingot in the follow-up period will still rise.