Social Inventory of Lead Ingots Further Declined but the Decline was Limited

SHANGHAI, Sep 26 (SMM) - As of September 26, the social inventory of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin was 77,700 mt, down less than 100 mt from last Friday (September 23) and 5,800 mt from last Monday (September 19).

According to research, before the National Day holiday, the demand of lead-acid battery was strong amid the peak season, hence most companies planned to have no or less holidays during the National Day and purchased raw materials in advance since last week. Some enterprises have completed the procurement this week. In addition, the long-term orders in October were started to sell. Therefore, the downstream enterprises purchased less from social inventory. In this scenario, although the social inventory of lead ingots further declined, the decline was limited. In addition, there were more secondary lead smelters overhauled recently. At the same time, Anhui Jieshou suspended due to the pandemic, and some transportation was restricted. The transactions of lead ingots may be affected. In Yunnan, the notice of power cuts was published, but the impact on the production of lead smelters was limited. SMM will pay further attention to the follow-up.