Latest Update in the China Lead Market

According to SMM survey on the domestic major aluminium processing enterprises, their operating rates will vary during the National Day holiday, depending on their orders. Most of the small and medium-sized enterprises will close for 3-7 days for the holiday, while larger ones will take a shorter or even no break.

This is a roundup of China's metals weekly inventory as of September 30.

SMM offices will be closed for the National Day holiday from October 1 to 7, 2022. There will be no updates on price data and market news, including SMM Morning Comments and Macro Roundup during this period.

Shanghai nonferrous metals closed mostly with gains on the last trading day ahead of the National Day holiday. The higher-than-expected Chinese manufacturing data boosted the demand outlook for the world's largest metal consumer, while the London Metal Exchange (LME) may remove more brands of metal produced by Russian companies from the exchange's deliverable list, also a bullish call.

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).

Social inventories of lead ingots further declined as lead-acid battery producers purchased intensively before the National Day holiday.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Sep 30, 2022

In August and September, the lead-acid battery market entered the traditional peak season of consumption.