SHANGHAI, APR 25 - According to SMM, as of April 25, the total lead ingot inventory in the five major markets reached 98,700 mt, up 1,300 mt from last Friday (April 22), and down 6,200 mt from Monday (April 18).
According to the survey, the inventory of smelters was low due to the continuous maintenance of deliverable brand enterprises, so some downstream enterprises maintained nearby procurement. In addition, the secondary refined lead prices were in huge discounts amid the supply recovery. As of April 25, the transaction prices of secondary refined lead were in discounts of 350-250 yuan/mt over the SMM #1 lead average price. The inventory decline in Jiangsu, Zhejiang and Tianjin slowed down as some lead consumption was diverted agian.
In addition, due to the pandemic, it is difficult to ship goods in Shanghai. At the same time, as the goods in transit in the early stage have successively arrived at the warehouse, the overall social inventory has increased.