Downstream procurement demand remained sluggish before the holiday, with in-plant inventory at primary lead smelters increasing again [SMM Weekly Review of Primary Lead Inventory]

        It is understood that as of April 30, the in-plant inventory of primary lead delivery brands stood at 15,100 mt, an increase of 1,800 mt from April 25.

        This week, there were relatively small changes in the production of primary lead smelters. The main factor affecting the in-plant inventory of smelters was the approaching Labour Day holiday. Downstream enterprises mostly had plans to take a break, leading to a decrease in procurement volume of lead ingots before the holiday. Mid-week, despite suppliers expanding their discounts to sell, with primary lead quotations in major production areas against the SHFE lead 2506 contract at a discount of 220-100 yuan/mt ex-factory, this failed to halt the trend of increasing in-plant inventory at smelters. In addition, after the Labour Day holiday, the in-plant inventory of primary lead smelters may increase further, and it will be necessary to monitor the possibility of transferring to delivery warehouse.