Production Cuts and Warehouse Transfers Lead to Decline in Primary Lead Smelter's In-Factory Inventory [SMM Weekly Review of Primary Lead Inventory]

        According to reports, as of September 11, the in-factory inventory of primary lead delivery brands was 9,600 mt, down 3,000 mt WoW.

Recently, both primary and secondary lead smelters have undergone maintenance, leading to tight regional supply of lead ingots. With the lifting of logistics restrictions in North and Central China last week, lead smelters gradually resumed normal shipments. At the beginning of the week, lead prices fluctuated downward, prompting some downstream enterprises to purchase on demand at low prices, which consumed part of the in-factory inventory. Additionally, as the delivery date for the SHFE lead 2510 contract approaches, suppliers have been transferring lead ingots from producers' warehouses to social warehouses, which is also a factor contributing to the decline in in-factory inventory at primary lead enterprises.