[SMM data] the price advantage of recycled lead shows a slight increase in social inventory of lead ingots.

SMM May 22nd: according to SMM, as of Friday, the total inventory of SMM lead ingots in the five places reached 9500 tons, up more than 100 tons from last week.

It is understood that this week, lead battery market consumption has not changed significantly, and recycled lead supply is OK, coupled with the rise in lead prices, recycled lead enterprise profits repair, recycled refined lead sticker expanded again, as of Friday to the SMM1# lead average price discount 200 yuan / ton factory above, individual discount 350 yuan / ton, downstream just need diversion. During this period, Henan refineries are mainly shipped with long orders, and there are no surplus bulk orders for the time being, and so are refineries in Jiangxi and Anhui, so social inventory is only slightly increased.

In addition, next week, imported lead is about to arrive in Hong Kong, or contribute more sources of goods in circulation, other supply and demand sides have not changed much for the time being, and social inventory is expected to show a small increase.