Primary Lead Smelters’ Delivery Brand Inventories Fall Sharply

SHANGHAI, Mar 27 (SMM) – According to SMM survey, the in-plant inventory of major deliverable primary lead held by smelters stood at 1,400 mt as of March 24, down 1,300 mt from a week ago. Maintenance by primary lead smelters was extended, while secondary lead production has not resumed, leading to regional supply tightness. Smelters rushed to deliver their monthly long-term orders ahead of the deadline on March 25. Downstream purchases will dwindle due to softening lead-acid battery consumption. More lead ingots will flow into the spot market following the delivery of long-term orders, and smelters' inventories will likely build up.