Downstream Enterprises Buy the Dip, Primary Lead Enterprises’ In-Factory Inventory Declines [SMM Primary Lead Inventory Weekly Review]

          It is understood that as of July 16, the in-factory inventory of major primary lead delivery brands was 17,100 mt, down 2,400 mt WoW.

This week, production at primary lead smelters was stable with slight growth, while lead prices plunged early in the week, prompting downstream enterprises to buy the dip. Except for a few smelters holding back from selling at low prices, most other enterprises sold at market prices, leading to a decline in in-factory inventories. After the price drop, secondary lead enterprises faced heavier losses, with shipments shrinking significantly. In addition, secondary refined lead was quoted higher than primary lead, so downstream purchases leaned toward primary lead, thus driving destocking at primary lead smelters.