Social Inventory of Lead Ingots Fell More Than 10,000 mt amid Regional Difference and Stockpiling Before National Day Holiday

SHANGHAI, Sep 30 (SMM) - As of September 30, the social inventory of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin was 66,000 mt, down 11,700 mt from last Friday (September 23) and 11,700 mt from Monday (September 26).

According to research, the National Day holiday is approaching, and major battery companies completed the procurement of lead ingots, especially large-sized enterprises that had more demand for lead ingots due to fewer or no holidays. During this week, due to the pandemic in Anhui, lead ingots were unable to be shipped to other places. Meanwhile, due to the power rationing in Yunnan, some companies took maintenance. Therefore, the downstream enterprises further digested the social inventory. In October, newly-expanded capacity of secondary lead companies will be put into operation. However, due to the disruption of the pandemic in Anhui, the production of smelters is uncertain. It is expected that the inventory of lead ingots after the National Day holiday is unlikely to increase.