Supply Expansion Pace Slowed Down, Secondary Lead Inventory Declined This Week [SMM Secondary Lead Inventory Weekly Review]

SMM April 24 News:

Secondary lead finished product inventories saw slight destocking this week. As of April 23, secondary lead finished product inventories stood at 17,700 mt, down 400 mt from April 16. Currently, the lead import window continued to narrow, willingness to import lead cooled, and coupled with maintenance plans at certain large smelters, the overall supply expansion pace slowed down. Looking ahead to next week, supported by raw material costs, supplier offer prices are expected to remain firm with cautious shipments. Combined with continued pullback in smelter operating rates, enterprises are expected to prioritize long-term contract deliveries, spot order circulation is expected to tighten, and finished product inventories are expected to continue the destocking trend.