Social Inventory of Lead Ingot Falls Further amid Maintenance at Main Production Regions

SHANGHAI, Apr 7 (SMM)- According to SMM research, according to SMM research, as of April 7, the total social inventory of SMM lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin reached 33,600 mt, a decrease of 6,100 mt from last Friday （March31） and 4,800 mt from this Monday (April 3).
According to the survey, in April, primary lead and secondary lead smelters in Henan and Anhui carried out a new round of maintenance, and thus the regional lead ingot shortage has intensified. At the same time, the falling lead prices of lead at the beginning of this week encouraged downstream enterprises to purchase primary lead on dips. Therefore, the social inventory of lead ingot in main consumption places declined. Next week, primary lead output is expected to decline and the market supply may tighten amid the maintenance. At the same time, approaching the delivery of SHFE 2304 lead contract, the follow-up primary lead supply will decline further. But the decline may slow down.