Downstream purchases, limited arrivals lower lead stocks in Shanghai, Guangdong

SHANGHAI, Sep 28 (SMM) – Social inventories of primary lead across Shanghai and Guangdong decreased 2,800 mt over the week ended September 28 to stand at 7,900 mt, SMM data showed. 

This marked the second consecutive week of decline as downstream battery plants stockpiled before the upcoming week-long National Day holiday. Limited deliveries from smelters, due to tight supply of lead ore in some areas, also accounted for the drop in social inventories.