SHANGHAI, Sep 14 (SMM) – Social inventories of primary lead across Shanghai and Guangdong grew for a second straight week as lower prices of secondary materials continued to deplete demand for primary materials, SMM research found.
As of Friday September 14, stocks stood at 12,600 mt, up 2,100 mt from a week earlier, SMM data showed.
Growing output of secondary lead extended the price spreads between primary and secondary materials. Few imports arrived.
Meanwhile, volatile lead prices affected purchasing enthusiasm of lead-acid battery producers and this grew inventories.
Primary lead social stocks across the two regions are likely to continue to increase as cargoes enter the physical market after delivery, SMM expects.
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