Downstream CNY breaks expand lead ingot inventories at smelters

SHANGHAI, Feb 20 (SMM) – Inventories of lead ingot across China's primary smelters expanded during the Chinese New Year holiday and the first week after breaks, SMM data showed. Stable production and closure of downstream battery plants during CNY accounted for the increase. 

As of Tuesday February 19, smelters' in-plant stocks of lead ingot registered 41,900 mt, up 21,100 mt on the week, and up 35,000 mt from the same period a lunar year ago. 

Inventories also accumulated by some 10,000 mt compared with the end of the CNY holiday in 2018.