Stockpiling Concludes, Secondary Lead Inventory Buildup Expected During Next Week's Holiday [SMM Secondary Lead Inventory Weekly Review]

Published: Sep 30, 2026 14:58 (GMT+8)

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SMM, September 30:

As of September 30, secondary lead finished product inventories stood at 7,700 mt, down 330 mt WoW. This week, pre-holiday stockpiling has largely concluded, downstream purchasing sentiment has cooled, and transactions pulled back WoW. Meanwhile, spot orders from secondary lead suppliers remained tight, with some merchants starting their holidays early and suspending quotes and shipments, slowing the pace of inventory decline. Next week falls entirely within the National Day holiday, and market trading will be largely halted. Secondary lead smelters will have limited holiday shutdowns, and SMM expects finished product inventories to see a slight accumulation.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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