Social inventories of lead ingots shrank 200 mt over weekend

SHANGHAI, Apr 6 (SMM) – Social inventories of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin fell 200 mt from last Friday April 2 to 56,100 mt as of Tuesday April 6, an SMM survey showed. The stocks were up 3,600 mt from last Monday March 29.

According to SMM survey, the lead battery market entered the traditional off-season in April, and downstream enterprises began to reduce their planned output. At the same time, this week coincided with Qingming holiday, and some enterprises took 1-2 days off. In addition, lead prices successively weakened, and the secondary lead enterprises were less willing to produce as they turned loss by profit. Some places such as Jiangxi carried out maintenance and environmental inspection, and the supply was relatively narrowed, which also accounted for the moderate decrease in social inventories of lead ingots.