Primary lead social inventories across Shanghai, Guangdong down on the week

SHANGHAI, Aug 17 (SMM) – Social inventories of primary lead in Shanghai and Guangdong shrank this week as downstream consumers restocked on lower prices of lead and as demand for secondary lead shifted to primary lead. 

Inventories across the two regions fell some 1,800 mt from a week earlier to 14,000 mt as of Friday August 17. This came after a gain of close to 1,000 mt last week. 

Spot transactions picked up as downstream consumers restocked when lead prices slumped. Meanwhile, buyers favoured primary, imported lead instead of secondary materials, as price advantages of secondary materials shrank when profits dipped and smelters raised offers.