Procurement Efforts by Downstream Enterprises Weaken, Secondary Lead Finished Product Inventories Expected to Shift to an Upward Trend Next Week [SMM Secondary Lead Inventory Weekly Review]

Published: Feb 6, 2026 16:11

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SMM Feb. 6:

Lead prices were in the doldrums this week. Some downstream battery producers bought the dip and stockpiled as needed. In addition, the scale of production cuts and halts at secondary lead smelters expanded, slowing down the supply pace. Considering downstream demand and tightening supply, weekly finished product inventories of secondary lead dropped by 9,100 mt to 25,700 mt. Next week, the number of enterprises across the lead industry chain taking holidays will increase. The tightening supply will slow down the inventory buildup of refined lead, but downstream purchasing momentum is expected to remain weak, and finished product inventories are projected to shift to an upward trend.

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