SMM News on April 28: According to SMM, as of April 28, the total social inventory of lead ingots in five regions reached 44,500 mt, a decrease of 10,100 mt from April 21 and a decrease of 1,600 mt from April 24.
Recently, there has been a significant imbalance in the supply of scrap batteries. Last week, due to issues such as insufficient scrap supply and losses, the number of secondary lead enterprises reducing or halting production increased, leading to a temporary reduction in the supply of lead ingots. Consequently, the inventory in social warehouses surrounding lead consumption hubs continued to decline. Additionally, as this week approaches the Labour Day holiday, downstream lead-acid battery enterprises are gradually planning to take holidays, with some enterprises already reducing their pre-holiday procurement. It is expected that the subsequent decline in social inventory of lead ingots will slow down. During the Labour Day holiday, there will be a temporary absence of lead consumption. Coupled with the upcoming delivery of the SHFE lead 2505 contract after the holiday, the social inventory of lead ingots will show a trend of halting its decline and starting to rise.
