Social inventories of lead ingots rose 2,700 mt from September 30

SHANGHAI, Oct 9 (SMM) – Social inventories of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin rose 2,700 mt from September 30 to 25,700 mt as of Friday October 9.

Lead-acid battery makers took 1-3 days off during the National Day holidays, while most of the lead smelters kept normal deliveries, reducing shipments from social warehouses. Some sellers became more willing to deliver cargoes to social warehouses as they lowered expectations for strong consumption after the holidays.

Lead social inventories are likely to rise further in October as new secondary lead capacities come online.