SHNAGHAI, Feb 17 (SMM) - According to SMM survey, as of February 17, the lead ingot inventory across the five major regions in China totalled 83,8000 mt, up 30,000 mt from February 10 and 26,900 mt from February 13.
According to research, a large number of deliverable goods flooded into social warehouses, especially in Jiangsu and Zhejiang, as thus the social inventory surged to a 5-month high. However, some primary lead and secondary lead smelters were under maintenance and thus the supply of lead ingots in February has not changed much compared with January. In addition, due to regional differences in supply, there was a large gap in spot discounts between north and south China. Recently, downstream enterprises purchased as needed amid the falling lead prices. With the deliverable goods flowing to the market, and the social inventory of lead ingots may fall from the high level.
