Supply rises in tandem with lead prices; in-plant inventory of primary lead enterprises reverses trend and accumulates [SMM Weekly Review of Primary Lead Inventory]

        It is understood that as of August 7, the in-plant inventory of primary lead for the main delivery brands was 6,900 mt, an increase of 1,300 mt WoW.

This week, the production of primary lead smelters has basically resumed, with supply rising further. The availability of spot market cargoes has increased, and suppliers have been actively shipping goods. However, lead prices fluctuated and strengthened during the week, with downstream enterprises adopting a wait-and-see attitude. Trading activity in the spot market declined, and some smelters saw a cumulative increase in their lead ingot inventories. In addition, with the delivery of the SHFE lead 2508 contract approaching, some lead ingot cargoes have flowed into the delivery warehouse. Therefore, the finished product inventories of primary lead enterprises have only slightly increased.