Lead Prices Retreat after Rapid Rise with Slight Destocking, Post-holiday Supply and Demand Both Weak, Inventory Stabilizes [SMM Secondary Lead Inventory Weekly Review]

SMM, June 18:

As of June 18, secondary lead finished product inventories stood at 19,600 mt, down 780 mt WoW from June 11. Lead prices retreated after a rapid rise this week, and downstream bargain-hunting restocking provided some destocking momentum, but overall destocking was limited by sluggish end-user battery orders. With battery enterprises observing a 1-3 day Dragon Boat Festival holiday next week, coupled with smelter production cuts due to losses and subdued raw material supply, supply-demand sides contracted simultaneously, making a significant inventory buildup in secondary lead finished products unlikely.