Downstream Restocking Demand and Maintenance Plans Will Weigh on Inventory of Primary Lead Smelters

SHANGHAI, Apr 24 (SMM) -  As of April 21, the inventory of primary lead stood at 6,200 mt in the major deliverable brand companies, up 2,300 mt from April 14.

According to research, the tight supply extended amid the maintenance of primary lead smelters. But the delivery of smelters returned to normal level after the SHFE 2304 lead contract was completed. At the same time, the supply of secondary lead resumed and the discounts of secondary refined lead prices expanded to 200 yuan/mt over SMM 1# lead price. In this scenario, some downstream preferred to purchase secondary lead. Therefore, the inventory of primary lead smelters stopped falling and rebounded. But approaching the May Day holiday, the downstream restocking demand and maintenance plans will weigh on the inventory of primary lead smelter this week.