SHANGHAI, Oct 21 (SMM) – The social inventory of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin decreased by 3,000 mt from October 14 and fell 3,100 mt from October 17 to 64,500 mt as of October 21.
According to research, the consumption of lead-acid battery market was acceptable. In addition, in the second half of October, some large-sized enterprises have run out of the goods purchased in the form of long-term orders, and began to purchase in the form of small orders. Although the pandemic in Anhui was lifted this week, the recovery of secondary lead smelters was limited. The downstream supply around Jiangsu, Zhejiang and Shanghai was still insufficient, and downstream enterprises turned to consume goods in the warehouses. Therefore, the social inventory of lead ingots in this region declined. With the ease of the pandemic in Anhui, Yunnan and other places, the supply of primary lead and secondary lead will continue to recover next week. Coupled with the recovery of production after maintenance, the decline of the lead ingot social inventory may slow down with potential increase.
