The Social Inventories of Lead Ingots Declined as the Main Source of Supply Reduced

SHANGHAI, May 27 (SMM) – As of May 27, SMM total social inventories of lead ingots across five regions increased to 95,700 mt, down 3,600 mt from last Friday (May 20) and down 5,400 mt from last Monday (May 16).

According to the survey, lead prices fell below 15,000 yuan/mt again after rising. In this case, lead smelters were less motivated to ship, and downstream enterprises mainly purchased as needed. Meanwhile, some mainstream primary lead deliverable brands in Henan were undergoing maintenance. In addition, the supply of secondary lead in Anhui tightened due to the environmental protection. Although there was supply increase in other regions, the regional supply difference of lead ingots expanded. As the downstream mainly purchased nearby as needed amid the pandemic, the lead inventories of  local and surrounding places declined. The supply of lead ingots is expected to increase steadily next week, but regional differences still exist. SMM will monitor the impact of some brand deliveries in June on the social inventory of lead ingots.