SHANGHAI, Sep 19 (SMM) - As of September 19, the social inventory of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin was 83,500 mt, down 400 mt from last Friday (September 16) and up 12,500 mt from last Tuesday (September 13).
According to the survey, after the delivery of SHFE 2209 contract finished, goods flew into the market. At the same time, secondary lead smelters in Anhui and Jiangxi were still in a state of production reduction. In addition, as the lead prices declined, downstream enterprises purchased as needed, hence the in-plant inventory decreased. It is expected that the overall supply will not change much amid the production resumption and reduction. In the second half of the month, the long-term orders will finish. As the operating rates of downstream enterprises are considerable, there may be demand for retail transactions in the future. Therefore, the social inventory of lead ingots may continue to decline slightly.
