Social Inventory of Lead Ingot Fell by Nearly 10,000 mt amid the Power Rationing

SHANGHAI, Aug 26 (SMM) - As of August 26, the social inventory of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin was 67,200 mt, down 9,300 mt from last Friday (August 19) and down 6,800 mt from Monday (August 22).

According to research, due to the power rationing in Anhui and Henan, the supply and demand of lead ingots declined. As the supply declined more significantly, the regional supply difference further expanded. In this scenario, downstream enterprises purchased goods that were in warehouses, hence the social inventory of lead ingots fell by nearly 10,000 mt. In addition, as the high temperature eased, the power supply improved. For example, Anhui stopped the power rationing since August 25 and local secondary lead smelters resumed the production. The market should pay attention to the power rationing in Jiangsu, Hunan and Henan. It is expected that the supply will increase more than the demand, and the decline of lead inventory may slow down next week.