Lead Ingot Social Inventory Down 20,300 mt on Week

SHANGHAI, Nov 26 (SMM) – Social inventories of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin decreased 20,300 mt from November 19 and 15,200 mt from November 22 to 139,200 mt as of November 26.

According to SMM survey, large secondary lead smelters in Anhui underwent maintenance last week. Hunan was subject to environmental protection inspections, affecting the production at some primary lead smelters. The supply tightens again. Lead prices rose again and reached 15,500 yuan/mt. Downstream producers restocked goods on rigid demand. Lead consumption in the Southeast Asian market is bullish, boosting exports of lead ingots. The decline of lead ingots across domestic five markets expanded to 20,000 mt. The maintenance at some companies will end this week. The tight supply is expected to be eased while the decline of lead ingots inventories is likely to slow.