Lead inventory extends decline on production limitations

SHANGHAI, Jun 22 (SMM) – Lead inventory in Shanghai and Guangdong extended declines over the week ended Friday June 22 as production limitations at primary lead smelters in Henan province sustained, SMM learned. In addition, downstream consumers restocked only on demand in a falling market after the Dragon Boat Festival.

As of Friday June 22, the inventory dipped some 400 mt from a week ago to 9,700 mt. The week-on-week decline was smaller than the 900 mt in the previous week given the arrivals of imported lead.