Deliveries and Inventory Transfers, Combined with Downstream Procurement, Continued to Reduce Plant Inventory at Primary Lead Enterprises [SMM Weekly Review of Primary Lead Inventory]

          It is learned that as of March 12, in-factory inventory of primary lead for major delivery brands stood at 28,600 mt, down 12,000 mt WoW.

Recently, some primary lead smelters gradually resumed production after maintenance, keeping supply on a slightly rising trend. As lead prices declined, downstream enterprises became relatively more active in buying the dip, and smelters’ in-factory inventory was reduced to some extent. Meanwhile, as the SHFE lead 2603 contract is about to enter delivery, suppliers’ transfer of inventory to delivery warehouses is also one of the factors behind the decline in smelters’ in-factory inventory. It is expected that before delivery, more suppliers will transfer inventory, and with some secondary lead enterprises delaying the resumption of work or taking the initiative to cut production, primary lead smelters’ in-factory inventory is expected to continue to fall going forward.