Social Inventory of Lead Ingot Increase amid Supply Recovery and Weak Demand

SHANGHAI, May 5 (SMM) - According to SMM research, as of May 5, the total social inventory of SMM lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin reached 27,200 mt, an increase of 1,100 mt from April 28 and a decrease of 2,400 mt from April 24.

According to research, the supply increase of primary lead and secondary lead caused by the completion of maintenance, combined with the weak consumption brought by the Labour Day holiday led to the increase in the stocks of lead smelters. In addition, the social inventory of lead ingot also increased post the holiday and is likely to rise further next week as lead smelters are transferring their goods to the social warehouses approaching the delivery of SHFE 2305 lead contract.