Downstream Pre-Holiday Stockpiling, Primary Lead Smelter Inventory Drops Significantly [SMM Primary Lead Inventory Weekly Review]

        According to reports, as of September 18, the in-factory inventory of primary lead delivery brands was 3,000 mt, down 6,600 mt WoW.

This week coincided with the delivery of the SHFE lead 2509 contract. The transfer of lead ingot inventories to delivery warehouses (from producers' warehouses to delivery warehouses) led to a reduction in inventories at primary lead smelters. Meanwhile, as the National Day holiday approaches, downstream lead-acid battery enterprises have gradually begun their routine stockpiling of lead ingots. At the same time, smelters in Anhui, the largest production area for secondary lead, are still undergoing maintenance and production cuts. Downstream enterprises have concentrated their purchases on the primary lead sector, resulting in a significant decline in smelters' in-factory inventories. Additionally, next week, some primary lead smelters are expected to complete their maintenance, while downstream enterprises are still anticipated to stockpile before the holiday. It is expected that smelters' in-factory inventories will remain low before the holiday.