Lead Ingot Inventory may Fall as Export Window Opens amid Rising LME Lead Prices

SHANGHAI, Apr 17 (SMM) - According to SMM research, according to SMM research, as of April 17, the total social inventory of SMM lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin reached 42,200 mt, up 1,700 mt from last Friday (April 14) and up 8,600 mt from last Monday (April 10).
Amid the delivery of SHFE 2304 lead contract, deliverable goods have arrived at the warehouses, which led to an increase in the social inventory. At the same time, the maintenance of deliverable primary brands in Yunnan and Henan, combined with the production reduction of primary smelters in Hunan, made the supply tighen regionally. Given the rising LME lead prices, the export window opens and the lead ingot inventory may decline.