SHANGHAI, Oct 17 (SMM) - As of October 17, the social inventory of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin was 67,600 mt, up more than 100 mt from last Friday (October 14) and 1,500 mt from last Monday (October 10).
According to the survey, the delivery of SHFE 2210 lead contract is imminent, and the deliverable goods have gradually arrived at the SHFE warehouse. During the period, the primary lead smelters reduced the production, hence the supply tightened. In the main producing area of secondary lead—Anhui, the production of local smelters did not fully recovered, and the regional supply varied greatly. As a result, some downstream companies still purchased goods that were in warehouses, hence the increase in social inventory of lead ingots was limited. SMM will pay attention to the development of the pandemic in Yunnan, Inner Mongolia, Liaoning and other places, and whether the smelters can resume the production and the transportation can resume.
