Social Inventory of Lead Ingots Increased After the Delivery of SHFE 2303 Lead Contratc

SHANGHAI, Mar 20 (SMM) - As of March 20, the social inventory of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin was 53,300 mt, down 2,200 mt from March 17 and up 3,200 mt from March 13.

According to research, due to the maintenance of primary and secondary lead smelters in Hunan, Anhui, Shandong and Jiangxi, the supply tightened regionally. In addition, after the delivery of SHFE 2303 lead contract, social inventory of lead ingots increased. Coupled with the weak demand coused by high lead prices, market supply increased on the week.