Social Inventory of Lead Ingot Declined Sligthly after the Mid-Autumn Festival as the Supply of Secondary Lead Decreased

SHANGHAI, Sep 13 (SMM) - As of September 13, the social inventory of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin was 71,000 mt, down 800 mt from last Friday (September 9) and up 1,100 mt from last Monday (September 5).

According to the survey, due to losses, secondary lead smelters, especially in Anhui reduced the production, hence the regional supply tightened. In this scenario, downstream companies digested part of the inventory. With the completion of the overhaul of some secondary lead smelters, the supply is expected to increase this week. At the same time, the stocks are transferred to the social warehouses amid the approaching delivery of SHFE 2209 lead contract. It is expected that the social inventory of lead ingot will increase in the follow-up period.