SHANGHAI, Apr 29 (SMM) – SMM China lead ingot inventory across five major markets in China stood at 94,800 mt as of April 29, down 2,600 mt from last Friday April 22 and down 3,900 mt from Monday April 25.
According to research, lead ingot supply improved as a whole from last week. However, more deliverable brands carried out maintenance, while the downstream restocked on demand as the Labour Day holiday is approaching. Downstream players mostly purchased from surrounding markets, including Zhejiang and Jiangsu where local lead ingot inventory dropped.
On the other hand, most downstream companies will be closed for Labour Day holiday, which might lead to accumulation in social inventory.