Social inventories of lead ingots shrank 700 mt over weekend

SHANGHAI, Jan 18 (SMM) – Social inventories of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin fell 700 mt from last Friday January 15 to 55,800 mt as of Monday January 18, an SMM survey showed. The stocks were down 1,100 mt from last Monday January 11.

Considering the difference in logistics and production time before and after the Chinese New Year, downstream lead acid battery companies are in a state of stockpiling before the holiday. Secondary lead companies continue to reduce their stocks, and social inventories of lead ingots continues to decline. In addition, some secondary lead companies in Hebei, Inner Mongolia, Jiangxi and other regions will gradually suspend production for holidays after January 20. Follow-up supply is likely to be further tightened, and social inventories of lead ingots are expected to continue to decline.