SHANGHAI, May 9 (SMM) - According to SMM survey, as of May 9, the total inventory of lead ingots in SMM five major places reached 97,000 mt, up 2,200 mt compared with previous Friday (April 29), and up 3600 mt from last Thursday (May 5).
According to the research, the off-season situation of lead-acid battery market in May remained unchanged and most downstream enterprises purchased as needed. In addition, the regional recovery of secondary lead supply has squeezed the primary lead demand. At the same time, the competition has expanded the spot discounts of some deliverable brands, with the spread between futures and spot exceeding 200 yuan/mt. So the holders had strong delivery intention. In addition, as the goods has arrived one week before the delivery date, social inventory in many places has increased.