Social Inventory of Lead Ingots Increases as Expected

SHANGHAI, Feb 13 (SMM) - According to SMM research, as of February 13, the total social inventory of SMM lead ingots Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin reached 56,900 mt, an increase of 3,100 mt from last Friday (February 10) and an increase of 5,500 mt from last Monday (February 6).
According to SMM research, the deliverable goods gradually arrived at social warehouses approaching the delivery of SHEF 2302 lead contract. As such, the social inventory of lead ingot increased as expected. With the release of new capacity of primary lead and secondary lead smelters and the maintenance of some enterprises, the supply diverged across regions. In addition, in light of the low lead prices, smelters were less active in shipments and downstream enterprises were cautious in procurement. The market transactions are active, and the social inventory may increase further within the week.