Lead inventory dips on fewer deliveries from smelters

SHANGHAI, Jun 15 (SMM) – Lead inventory at Shanghai and Guangdong warehouses dipped 900 mt to 10,100 mt for the week ended Friday June 15, SMM found. This compared with a drop of 300 mt registered on Friday June 8. 

Fewer deliveries from primary and secondary lead smelters in Henan and Jiangxi provinces on environmental inspection accounted for the decline. In addition, downstream buyers mostly purchased on demand amid bearish sentiment as lead prices tumbled during the week.