SHANGHAI, July 25 (SMM) - As of July 25, the social inventory of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin was 74,200 mt, down 4,500 mt from last Friday (July 22) and down 16,800 mt from last Monday (July 18).
According to the survey, the lead-acid battery consumption recovered steadily, and the procurement demand of downstream enterprises increased simultaneously. Before the delivery of SHFE 2207 contract, downstream purchased the lead ingots on dips intensively. Since last week, the deliverable goods entered the market again, and the pre-sale goods were also transferred to downstream enterprises. Therefore, the social inventory of lead ingots further declined. Due to the high lead prices this week, downstream companies mostly purchase in the form of long-term orders. In addition, as the follow-up supply is expected to increase, the decline of social inventory may slow down.