With the recovery of large-scale secondary lead smelters after maintenance and the production ramp-up of new capacity, the overall supply will increase in May.
Notably, the producers of many deliverable primary lead brands have planned to undertake maintenance in May, thus the cargoes to be delivered to the warehouses will decline.
As such, social inventory of lead ingots will stop falling, but it upward room will also be limited.
More popular news:
'Bond King' Jeffrey Gundlach Says Sharp Fed Rate Cuts By Year-End Will Push Up Gold Prices
IMF: US Debt Defaults Will Take a Heavy Toll on Global Economy, Global GDP Growth Can Plunge
Goldman Sachs Sees European Gas Prices Tripling, Gives Price Forecast in H2 2023
BofA Sharply Lowers Forecast for Oil Price, Global Oil Consumption in 2023
Takeaways of Warren Buffett and Berkshire Hathaway’s 2023 Annual Meeting
US Treasury Bill Rates Soar to Record High on Debt Ceiling Jitters
No Other Country can Replace China's Manufacturing Industry Including India
Global Manufacturing PMI in April Points to Greater Downward Pressure on Global Economy
SMM Daily Comments (May 5): LME Base Metals Rose across the Board, SHFE Nickel Plunged
A Bull Gold Market Has Just Begun
Copper Shortage Is Irreparable Even after Biggest Mergers and Acquisitions, Here’s Why
For queries, please contact William Gu at williamgu@smm.cn
For more information on how to access our research reports, please email service.en@smm.cn