SHANGHAI, Aug 8 (SMM) – The social inventory of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin increased by 100 mt from August 5 and fell 6,000 mt from August 1 to 62,000 mt as of August 8.

According to research, due to the increase in demand and supply, lead ingot inventory fell. However, amid the approaching delivery of SHFE 2208 contract, the delivered goods gradually arrived at social warehouses, hence the social inventory of lead ingots increased slightly. Meanwhile, due to the high temperature, some provinces restricted the industrial power consumption to ensure the electricity consumption of residents. For example, Anhui government recently issued a power restriction notice, which affected the production of some lead smelters and lead-acid battery companies. The duration of power rationing ranged from 2-12 hours. Market should pay attention to the subsequent progress. The reason for the increase in lead ingot inventory may be that the delivered goods are shipped to the social warehouse this week before the delivery.