Lead Prices Slide Spurs Warehouse Deliveries, Boosting Social Inventories to Nearly 40,000 Tons: SMM Survey

Published: Sep 9, 2024 14:35

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[SMM Survey: Falling Lead Prices Drive Warehouse Deliveries, Social Inventories Rise to Nearly 40,000 Tons]
According to the survey, lead prices continued to decline, leading to significant differences in the willingness of holders to sell. Some sellers were reluctant to sell at low prices or were waiting to deliver to warehouses, while others were fearful of further declines and sold their stocks. Quotations for spot transactions were offered at a discount of approximately 100 yuan/ton to the average price of SMM 1# lead for ex-factory sales. Meanwhile, this week is the week before the delivery of the SHFE lead 2409 contract, and the number of holders transferring their stocks to warehouses for delivery has increased...

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