Social inventories of lead ingots rose 3,900 over weekend

SHANGHAI, Mar 22 (SMM) – Social inventories of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin expanded 3,900 mt from last Friday March 19 to 63,100 mt as of Monday March 22, an SMM survey showed. This was down 5,900 mt from last Monday March 15.

Stepped-up production at primary and secondary lead smelters mainly contributed to the rise in social inventories. Besides, rising lead prices kept downstream buyers on the sidelines. Discounts of secondary refined lead expanded as secondary smelters shipped out cargoes actively amid higher lead prices.