Social Inventory of Lead Ingots Declined amid the Power Rationing

SHANGHAI, Aug 22 (SMM) - As of August 22, the social inventory of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin was 73,900 mt, down 2,500 mt from last Friday (August 19) and down 1,400 mt from August 15.

According to SMM research, due to the power rationing in Sichuan and Chongqing, the secondary lead, primary lead and lead-acid companies in Anhui, Hunan and Jiangsu were affected. Therefore, both supply and demand of lead ingots declined and the regional supply difference expanded. In this scenario, downstream enterprises purchased from surrounding areas Lead prices fell last week and hit the lowest point of the month last Friday (August 19). Downstream enterprises mainly purchased as needed and social inventory of lead ingots declined. In the follow-up, the market should pay attention to the power rationing. As some lead smelters in Henan are informed of power rationing today, the supply may tighten again and the social inventory of lead ingots may further decline.