Social Inventory of Lead Ingot Increase after the Power Rationing Ended

SHANGHAI, Aug 29 (SMM) – The social inventory of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin increased by 7,300 mt from August 26 and 500 mt from August 22 to 74,400 mt as of August 29.

According to the research, as the high temperature in many places ended, the power shortage eased. Upstream and downstream enterprises in Anhui, Jiangsu, Henan and other regions gradually resumed the production, hence both demand and supply of lead ingot increased. The supply of lead ingot increased more significantly than the demand. In this scenario, the regional difference narrowed, especially in Jiangsu, Zhejiang and Shanghai areas. After secondary lead smelters resumed the production in Anhui, lead ingot supply increased sharply. However, the short-term demand from downstream enterprises was limited, hence the social inventory of lead ingots increased. In addition, enterprises in the Sichuan and Chongqing began to resume the production today. SMM will pay further attention to the impact of the production resumption on the inventory.