SMM Lead Morning Meeting Minutes: Raw Material Shortage and Tightening

Published: Dec 18, 2023 09:00

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SMM Lead Morning Meeting Minutes: Raw Material Shortage and Tightening Lead Supply May Cause Lead Prices to Move Upward. Another cargo ship was attacked in the Red Sea, leading to four shipping giants including Maersk suspending transportation in the Red Sea for two days. Global shipping congestion has worsened, and there is a risk of closure of the Suez Canal, a major shipping artery. On the fundamental side, the completion of delivery of the Shanghai lead 2312 contract last week led to a decrease and then an increase in lead ingot inventory, while year-end inventory closing by some downstream enterprises may restrict short-term lead consumption and limit the upside of lead prices. On the other hand, transportation has been affected by the heavy snowfall in the northern region...

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