Downstream Essential Demand Released, Secondary Lead Finished Product Inventories Fell Rapidly; the Pace of Decline Is Expected to Slow Marginally Next Week [SMM Secondary Lead Inventory Weekly Review]

SMM, March 20:

As of March 19, finished product inventories of secondary lead stood at 12,500 mt, down 14,100 mt from March 12, marking a significant decline. The main reasons were the faster resumption of work at downstream battery enterprises, with the operating rate rebounding to around 75% this week; coupled with the decline in lead prices at the beginning of the week, the concentrated release of rigid demand drove a rapid destocking of inventory. The pace of decline is expected to slow down marginally next week, mainly affected by the rebound in operating rates at lead smelters and the replenishment of imported lead cargoes.

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