In-Plant Inventory of Primay Lead Increases after Delivery of SHFE 2302 Lead Contract Ended

SHANGHAI, Feb 27 (SMM) - According to SMM survey, the in-plant inventory of major deliverable primary lead held by smelters stood at 8,600 mt as of February 24, up 1,600 mt from February 17.

According to SMM research, lead prices fell after hitting high. At the beginning of last week, downstream enterprises purchased actively on dips. Coupled with high secondary refined lead prices, the demand for primary lead picked up. In the second half of last week, sharp increase in lead prices weighed on the demand from downstream enterprises. At the same time, the inventory of smelters increased after the delivery of SHFE 2302 lead contract ended. Among them, the inventory of smelters in south China did not increase amid the tight supply.