Production at smelters has resumed, but demand remains weak, leading to a cumulative increase in in-plant inventory at primary lead smelters [SMM Weekly Review of Primary Lead Inventory]

        It is understood that as of July 3, the in-plant inventory of primary lead delivery brands was 19,900 mt, an increase of 6,600 mt WoW.

Recently, primary lead smelters have resumed production after maintenance, leading to an increase in supply compared to the previous week. Meanwhile, lead prices have held up well, and downstream enterprises have been cautious in purchasing. As a result, the in-plant inventory of some smelters has accumulated. After the rise in lead prices, lead smelting enterprises have been actively shipping goods. For example, smelters in Hunan generally ship goods at a discount, with spot prices against the SMM 1# lead average price ranging from a discount of 50-30 yuan/mt at the factory. In contrast, suppliers in Henan have relatively firm shipping quotations, with spot prices against the SMM 1# lead average price ranging from a premium of 0-50 yuan/mt. Downstream enterprises prefer low-priced goods for their immediate needs, resulting in a situation where inventory levels are higher in the north than in the south.